NH Foods Limited Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2016; Revises Consolidated Earnings Guidance for the Year Ending March 31, 2017
November 31, 2016
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NH Foods Limited reported consolidated earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the company reported net sales of JPY 300,705 million against JPY 311,457 million a year ago. Income before income taxes and equity in earnings of associated companies was JPY 13,209 million against JPY 10,209 million a year ago. Net income from continuing operations was JPY 8,729 million against JPY 7,588 million a year ago. Net income attributable to the company was JPY 8,830 million against JPY 6,768 million a year ago.
For the six months, the company reported net sales of JPY 593,092 million against JPY 613,692 million a year ago. Operating income was JPY 23,432 million against JPY 23,062 million a year ago. Income before income taxes and equity in earnings of associated companies was JPY 21,870 million against JPY 22,146 million a year ago. Net income attributable to the company was JPY 14,749 million or JPY 67.97 per diluted share against JPY 15,366 million or JPY 70.81 per diluted share a year ago. Net cash provided by operating activities was JPY 33,640 million against JPY 13,179 million a year ago. Capital expenditures were JPY 13,646 million against JPY 21,597 million a year ago.
The company provided consolidated earnings guidance for the year ending March 31, 2017. For the year ending March 31, 2017, the company expects net sales of JPY 1,200,000 million, operating income of JPY 51,000 million, income before income taxes and equity in earnings of associated companies of JPY 47,000 million and net income attributable to the company of JPY 32,500 million or JPY 159.54 per diluted share compared to previous guidance of net sales of JPY 1,250,000 million, operating income of JPY 49,000 million, income before income taxes and equity in earnings of associated companies of JPY 44,000 million and net income attributable to the company of JPY 31,000 million or JPY 152.18 per diluted share.
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 Second Quarter and Six Months Ended September 30, 2016; Revises Consolidated Earnings Guidance for the Year Ending March 31, 2017