After the market close on 5 November, Ivy Cosmetics raised its net profit forecast for the six-month period from ¥160 million to ¥220 million. Net profit was ¥180 million in the same period of the previous year, and the full-year forecast was held unchanged at ¥290 million.
After the market close on 5 November, Ivy Cosmetics announced a revision to its earnings forecast for the six-month period, raising net profit to ¥220 million. This was an upward revision from the previous ¥160 million, with net profit expected to exceed the ¥180 million recorded in the same period of the previous year.
The full-year net profit forecast was held unchanged at the previous ¥290 million.
The reasons for the revision include soaring prices for materials and raw materials, as well as environmental changes such as natural disasters and abnormal weather. Despite these factors, revenue and profit are expected to increase for the six-month period through earnings improvement efforts, with recognition of deferred tax assets and an increase in deferred income taxes expected.
As an indication of revised results for the six-month period, the company provided revenue of ¥1,513 million, operating profit of ¥218 million, ordinary profit of ¥214 million, net profit of ¥226 million, and earnings per share of ¥36.