Aeon's Net Profit Jumps 3.3-Fold in March-Aug.

Tokyo, Oct. 13 (Jiji Press)--Japanese retail giant Aeon Co. said Tuesday that its consolidated net profit in the March-August first half of its current business year increased 3.3-fold from a year earlier to 13.3 billion yen.

The surge reflected the strong performance of drugstore operator Tsuruha Holdings Inc., which became an Aeon subsidiary in January, and a decrease in special losses.

Group sales rose 13.8 pct to 5,904.1 billion yen, a record high for the six-month period.

Consolidated operating profit grew 10.7 pct to 130.7 billion yen, hitting an all-time high for two consecutive years, as robust drugstore and Aeon Mall shopping facility operations more than offset the weakness of its mainstay general merchandise store business.

Aeon booked 4.1 billion yen as special losses related to damage from natural disasters, including the July 28 powerful earthquake in Kumamoto Prefecture. The temblor led to an explosion at the Aeon Mall Kumamoto facility in the town of Kashima in the southwestern Japan prefecture.

[Copyright The Jiji Press, Ltd.]