Japan-based Fast Retailing group, which in addition to its primary subsidiary Uniqlo, owns several labels like J Brand, Comptoir des Cotonniers, g.u., Princesse Tam-Tam and Theory, has reported 80 per cent jump in second quarter operating profit.
During the period ended February, operating profit increased to 42.1 billion yen, from 23.4 billion yen a year ago.
The group has reiterated its operating profit forecast for the year to August at a record high of 175 billion yen.
The group has also recorded gains in both revenue and profit in the first half of the fiscal while revenue up 0.6 per cent year on year to ¥1.0175 trillion. It is higher than expected 31.5 per cent year-on-year gain in operating profit to ¥130.6 billion.
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The retailer’s profit rose considerably following the reporting of a ¥15.4 billion foreign exchange gain under finance income and costs. As a result, profit attributable to owners of the parent jumped 106.7 per cent year on year to ¥97.2 billion.
