Kewpie's Profit Plummets 58% in Fiscal Q1

MT Newswires Live04-09

Kewpie's (TYO:2809) profit attributable to owners of the parent plummeted 58% to 5.39 billion yen for the fiscal first quarter from 12.8 billion yen a year earlier.

The mayonnaise maker's basic earnings per share declined to 38.96 yen from 91.92 yen a year ago, according to a Tokyo bourse filing on Thursday.

Net sales rose 3.9% to 124.7 billion yen for the three months ended Feb. 28 from over 120 billion yen in the prior-year period.

For the fiscal year ending Nov. 30, the company expects attributable profit of 25.5 billion yen, EPS of 184.95 yen, and net sales of 530 billion yen.

Kewpie plans to pay an interim dividend of 32 yen and a year-end dividend of 33 yen per share for the current year, which is higher than the 32 yen interim and 32 yen year-end dividends paid in the prior fiscal year.

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