Higher revenue but lower operating and net profit

「Amid these conditions, the group's results were supported by sales growth in the horticultural materials business and other operations. Revenue was ¥59,102 million, up ¥1,254 million, or 2.2%, year on year. In terms of profit, selling, general and administrative expenses increased because of higher personnel and logistics costs, resulting in operating profit of ¥1,747 million, down ¥268 million, or 13.3%, and ordinary profit of ¥1,891 million, down ¥224 million, or 10.6%, year on year. The company recognized an impairment loss at one branch because of lower profitability and a substantial decline in market prices, resulting in profit attributable to owners of the parent of ¥978 million, down ¥510 million, or 34.3%, year on year.」