Businesses linked to tuna contributed to the growth of company sales. (Photo: Stock File)
(JAPAN, 8/4/2010)
Seafood supplier Kyokuyo reported that for the first quarter the contributions by marine products purchasing and tuna businesses achieved net sales of JPY 37.479 billion (USD 432.8 million) or an increase of 10.6 percent year-over-year.
On the other hand, operating profit plunged by 48.3 percent to JPY 374 million (USD 4.3 million) and ordinary income by 39.3 percent to JPY 472 million (USD 5.5 million). These occurred as a result of a fallen profit margin in its cooked frozen food business and very poor performance by its refrigerated ocean transportation operations.
Moreover, the firm saw a loss on revaluation of investments in securities -- in total JPY 95 million (USD 1.1 million) were registered as an extraordinary loss -- leading the path to the first quarterly net income of JPY 166 million (USD 1....
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