JAPAN: Aeon Reports Modest H1 Profit Growth

Aeon Co has reported a slight rise in operating profit for its fiscal second quarter, helped by strong results from its supermarket and drugstore banners.

For the six months to 31 August, operating profit edged up 0.1% year-on-year to 72.4bn yen.  The results were boosted by a strong performance in the second quarter, when Aeon’s supermarket and drugstore banners did well. The group said it continues to face weaker consumer spending and deflation, and noted that its general merchandise operations had suffered.  It added: “Consumer sentiment has stalled and the future of our business environment is unclear”.

The group reiterated its full-year operating profit forecast of 190bn yen.