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.
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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.
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By GlobalDataFor 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.”
