Nissin Foods Holdings has forecast a return to profit growth in its new financial year after the Japanese group saw its earnings decline in the previous 12 months.
The company filed a 12.4% fall in net income to JPY23.56bn (US$210.4m) for the 12 months to the end of March, as the business lapped a year of higher extraordinary gains and incurred an increase in tax expenses.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Nissin’s operating income rose 8.4% to JPY28.62bn, with its net sales up 5.9% at JPY495.72bn.
For Nissin’s new financial year, which runs until 31 March 2018, it is forecasting net income of JPY24.5bn, operating income of JPY34bn and net sales of JPY520bn.
Earlier this week, Nissin told just-food it is to start manufacturing potato crisps at its China factory, aiming to use the popularity of its instant noodles range to score sales in the snacks sector.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
