Supermarket operator Jusco Co. posted increased group earnings for 2000 today for the year ending 20 February. Operating revenue and operating profit grew across its four business segments; general retail, specialty store, development and service operations. 


The group cited positive marketing and restructuring across its core retail operations for its improved revenues. The group revealed that net profit grew 48.6% from 1999 to ¥22.5bn and group operating revenue grew 8.6% to ¥2.74 trillion.


The number of customer visits increased 3.3% during the course of 2000, on a same-store basis, with the company attributing the growth to a new range of low-price products and value-added own brand products.


As a parent company, Jusco saw pre-tax profit increase 7.8% to ¥25.7bn, and operating revenue increase 14.1% to ¥1.62 trillion. The company explained that its subsidiaries, which include US apparels manufacturer Talbots Inc, performed successfully.


The group said it will pay a dividend of ¥22 per share for 2000, a figure unchanged from that paid last year.


For the current fiscal year, ending 20 February, Jusco has warned that it expects a special group net loss of ¥22bn. This will be the result of a write-off of underfunded pension liabilities costing ¥107bn and further restructuring of unprofitable operations.
 
Nevertheless, operating revenue is expected to increase 5.9% during the course of 2001 to ¥ 2.9 trillion, and a company official explained: “We have decided to carry out these measures in this fiscal year because our earnings are now in an uptrend.”