Japanese convenience store operator FamilyMart has reported a 7.1% rise in full-year net profit, as sales were boosted by new store openings.
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The company posted net profit of ¥13.8bn (US$128m) for the year to February, compared to ¥12.9bn in the previous year, reported Agence France Presse. Sales rose 5.3% to ¥228.98bn.
“We tried hard to improve our services of individual outlets by offering innovative training while aggressively launching new stores in areas where we have low presence,” FamilyMart president Junji Ueda was quoted by AFP as saying.
During the 12-month period, FamilyMart opened 1,655 franchise stores, of which 1,162 are situated outside Japan. At the end of February, the number of FamilyMart franchise stores had reached 10,326 and is expected to rise to 11,725 by the end of February 2005.
For the year to February 2005, the company expects consolidated net profit of ¥14.6bn on revenue of ¥244bn.
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