The Japanese company Q. P. Corp has posted strong 2000 results, with an 11% rise in consolidated operating profit and 2% increase in group sales to ¥384.2bn.
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Q. P. Crop revealed that strong sales in egg-based food products, such as mayonnaise and salad dressings, had boosted results.
Overall, the group did however post a net loss of ¥1.2bn. This figure can largely be attributed to depreciation loss on production plants and the fact that ¥13.9bn had been set aside to offset a shortfall in funding for a pension and retirement scheme.
For the year coming, the company said it hopes to record a 4% increase in sales to ¥400bn. It also anticipates net profit to reach ¥8bn through the divestment of pension and retirement liabilities worth ¥5bn.
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By GlobalData
