Fast Retailing profit rises 12.7pc

Business | Samantha Wong 12 Jan 2018

Fast Retailing Group (6288), the parent company of Japanese clothing chains Uniqlo and GU, said its net profit for the first quarter ended November 30 last year was 78.5 billion yen (HK$5.5 billion), up 12.7 percent from a year earlier. Revenue amounted to 617 billion yen, 16.7 percent higher year-on-year.

During the reporting period, UNIQLO Japan reported a rise in revenue of 7.6 percent to 257 billion yen, while UNIQLO International's revenue rose 31.4 percent to 258.2 billion yen.

Its new GU business segment reported a 5.6 percent increase in revenue to 60.8 billion yen. The Global Brands segments' revenue climbed 13.8 percent to 40 billion yen.

The group's estimates for the financial year ending August 31 this year remain unchanged from the original forecasts issued at the start of the period.

It predicts revenue to expand to 2.05 trillion yen, up 10.1 percent year-on-year, with net profit increasing to 120 billion yen, resulting in earnings per share of 1,176.66 yen.

It also expects to offer the same 350 yen annual dividend per share for 2018 as in 2017. This will be split equally between interim and year-end dividends of 175 yen each.

Meanwhile, beauty & health care chain Sa Sa International Holdings (0178) said its turnover for the third quarter ended December 31 last year increased 6.5 percent year-on-year to HK$2.28 billion.

Turnover in the Hong Kong and Macau markets increased by 8.1 percent, while same-store sales rose by 3.7 percent.

It said turnover in mainland China, Singapore and Malaysia grew 13 percent, 3.6 percent and 3.9 percent, respectively. Meanwhile, turnover in Taiwan fell by 5.5 percent, while its e-commerce segment suffered a 21.9 percent setback.

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