Japanese retailer Seven & I Holdings today (7 October) booked a jump in half-year profits despite a tiny rise in sales as the company benefited from one-off gains.
The company, which runs the 7-Eleven convenience chain in Japan and the US, posted net income of JPY62.43bn (US$757.1m) for the six months to the end of August – a rise of 42.9% on the year.
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Operating income increased by 1% to JPY119.33bn on the back of a 0.5% rise in revenues to JPY2.56trn and lower SG&A expenses.
The numbers led Seven & I to trim its forecast for annual revenues. It now sees sales reaching JPY5.14trn, against its previous guidance of JPY5.2trn.
