Tokyo, Oct. 15 (Jiji Press)–Japanese retailer Aeon Co. said Tuesday that its consolidated net profit rose 9.1 pct in its fiscal first half ended in August to 4,048 million yen thanks to increased sales of its Topvalu private brand products and cost reductions. The company saw its operating revenue and profit hit record highs for the six-month period as Topvalu’s price cuts attracted budget-conscious customs. Operating revenue rose 3.8 pct to 5,189.9 billion yen, while operating profit climbed 19.8 pct to 118.1 billion yen. The company also benefited from strong performance of its My Basket low-priced small supermarket chain. Aeon plans to open more than 200 My Basket stores annually, starting next fiscal year, President and CEO Akio Yoshida said in an earnings briefing. END [Copyright The Jiji Press, Ltd.]
Aeon’s Net Profit Up 9.1 Pct in 1st Half
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