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CROSS PLUS INC., First Half Ordinary Profit Decreases by 13%
3320 CROSS PLUS INC. 【J-GAAP】
Earnings ReportCROSS PLUS INC. <3320> [TSE-S] announced its financial results after the market closed on September 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) decreased by 12.8% from the same period last year to 997 million yen. However, this progress accounts for 73.9% of the full-year plan of 1.35 billion yen, also surpassing the five-year average of 55.3%.
Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to significant drop by 57.5% from the same period last year to 353 million yen.
In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit dropped to 238 million yen, a 34.4% decrease compared to the same period last year. The operating profit margin worsened from 2.2% in the same period last year to 1.1%.
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Actual Results
Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Progress Rate vs. First Half | Announce | Accounting Standards |
---|---|---|---|---|---|---|---|---|
Feb - Jul, 2022 | 26,131 | 411 | 569 | 847 | 115.6 | 137.8 | Sep 14, 2022 | J-GAAP |
Feb - Jul, 2023 | 27,547 | 1,041 | 1,144 | 1,254 | 170.9 | 58.0 | Sep 8, 2023 | J-GAAP |
Feb - Jul, 2024 | 29,616 | 893 | 997 | 754 | 102.2 | 73.9 | Sep 13, 2024 | J-GAAP |
YoY | +7.5% | -14.2% | -12.8% | -39.9% | -40.2% |
First Half Results vs. Previous Guidance
Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
---|---|---|---|---|---|---|---|---|
Feb - Jul, 2024 Guidance | 29,600 | 890 | 990 | 750 | 101.4 | 15 | Sep 6, 2024 | J-GAAP |
Feb - Jul, 2024 Results | 29,616 | 893 | 997 | 754 | 102.2 | 15 | Sep 13, 2024 | J-GAAP |
Revision Rate | +0.1% | +0.3% | +0.7% | +0.5% | +0.8% |
Current Period Guidance
Second Half Results
Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
---|---|---|---|---|---|---|---|---|
Aug - Jan, 2023 | 32,643 | 756 | 830 | 810 | 110.1 | 15 | Mar 15, 2024 | J-GAAP |
Aug - Jan, 2024 Guidance | 32,384 | 307 | 353 | 346 | 46.8 | 15 | Sep 13, 2024 | J-GAAP |
YoY | -0.8% | -59.4% | -57.5% | -57.3% | -57.5% |
Current Period Guidance
Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
---|---|---|---|---|---|---|---|---|
Jan, 2023 | 57,056 | 183 | 413 | 455 | 62.1 | 12 | Mar 17, 2023 | J-GAAP |
Jan, 2024 | 60,190 | 1,797 | 1,974 | 2,064 | 280.5 | 27 | Mar 15, 2024 | J-GAAP |
Jan, 2025 Guidance | 62,000 | 1,200 | 1,350 | 1,100 | 148.7 | 30 | Mar 15, 2024 | J-GAAP |
YoY | +3.0% | -33.2% | -31.6% | -46.7% | -47.0% |
Quarterly Results
Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Operating Profit Margin | Announce | Accounting Standards |
---|---|---|---|---|---|---|---|---|
May - Jul, 2023 | 12,736 | 281 | 363 | 371 | 50.6 | 2.2 | Sep 8, 2023 | J-GAAP |
Aug - Oct, 2023 | 17,783 | 982 | 1,004 | 870 | 118.4 | 5.5 | Dec 8, 2023 | J-GAAP |
Nov - Jan, 2023 | 14,860 | -226 | -174 | -60 | -8.2 | -1.5 | Mar 15, 2024 | J-GAAP |
Feb - Apr, 2024 | 15,734 | 738 | 759 | 506 | 68.7 | 4.7 | Jun 14, 2024 | J-GAAP |
May - Jul, 2024 | 13,882 | 155 | 238 | 248 | 33.6 | 1.1 | Sep 13, 2024 | J-GAAP |
YoY | +9.0% | -44.8% | -34.4% | -33.2% | -33.5% |
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