NH Foods Limited Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Revises Consolidated Earnings Guidance for the Six Months of the Year Ending March 31, 2018 and for the Year Ending March 31, 2018
July 30, 2017
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NH Foods Limited reported consolidated earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported net sales of ¥303,297 million compared to ¥292,387 million a year ago. Operating income was ¥13,916 million compared to ¥9,679 million a year ago. Income from continuing operations before income taxes and equity in earnings of associated companies was ¥13, 241 million compared to ¥8,661 million a year ago. Net income attributable to the company was ¥9,368 million compared to ¥5,919 million a year ago. Diluted earnings per share attributable to company were ¥43.13 compared to ¥27.29 a year ago. Net cash provided by operating activities was ¥6,885 million compared with ¥19,313 million a year ago. Capital expenditures were ¥7,897 million compared with ¥7,062 million a year ago.
For the six months of the year ending March 31, 2018, on consolidated basis, the company now expects net sales of ¥620,000 million, operating income of ¥27,500 million, income from continuing operations before income taxes and equity in earnings of associated companies of ¥24,500 million, net income attributable to the company of ¥18,500 million, basic earnings per share attributable to company of ¥87.60 compared to previous forecast of net sales of ¥610,000 million, operating income of ¥25,500 million, income from continuing operations before income taxes and equity in earnings of associated companies of ¥23,000 million, net income attributable to the company of ¥17,500 million, basic earnings per share attributable to company of ¥82.99.
For the year ending March 31, 2018, on consolidated basis, the company now expects net sales of ¥1,260,000 million, operating income of ¥58,000 million, income from continuing operations before income taxes and equity in earnings of associated companies of ¥53,000 million, net income attributable to the company of ¥38,500 million, basic earnings per share attributable to company of ¥182.31 compared to previous forecast of net sales of ¥1,250,000 million, operating income of ¥56,000 million, income from continuing operations before income taxes and equity in earnings of associated companies of ¥51,000 million, net income attributable to the company of ¥37,000 million, basic earnings per share attributable to company of ¥175.46.
NH Foods Ltd. is a food processing group organized around 6 sectors of activity:
- production and sale of fresh meat (61.5% of net sales): pork, beef and poultry;
- manufacturing and sale of processed foods (19.2%);
- manufacturing and sale of processed-meat products (11.2%): ham, sausages, mortadelle, pies, etc.;
- production and sale of dairy products (3%);
- production, processing and sale of fish and seafood (1.4%);
- other (3.7%).
At the end of March 2022, the group has 92 production sites worldwide.
NH Foods Limited Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2017; Revises Consolidated Earnings Guidance for the Six Months of the Year Ending March 31, 2018 and for the Year Ending March 31, 2018