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MORESCO Corporation, First Half Ordinary Profit Increases by 3%

Fri Oct 11, 2024 4:00 pm JST Earnings

5018 MORESCO Corporation 【J-GAAP】

Earnings Report

MORESCO Corporation <5018> [TSE-S] announced its financial results after the market closed on October 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 3.4% from the same period last year, reaching 965 million yen. The progress rate against the 1.85 billion yen full-year plan was 52.2%, also surpassing the five-year average of 48.4%.

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 September to February period (second half) is expected to nearly flat of 0.9% from the same period last year to 885 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 515 million yen, a 4.3% decrease compared to the same period last year. However, the operating profit margin improved from 3.5% in the same period last year to 5.4%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2022 14,523 295 846 504 53.9 80.9 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 15,386 528 933 569 61.7 51.1 Oct 12, 2023 J-GAAP
Mar - Aug, 2024 17,102 671 965 576 62.8 52.2 Oct 11, 2024 J-GAAP
YoY +11.2% +27.1% +3.4% +1.2% +1.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance ー ー ー ー － 20 Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 17,102 671 965 576 62.8 20 Oct 11, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 16,500 697 893 714 77.4 25 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 16,898 829 885 474 51.7 25 Oct 11, 2024 J-GAAP
YoY +2.4% +18.9% -0.9% -33.6% -33.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 30,333 523 1,046 615 66.2 40 Apr 11, 2023 J-GAAP
Feb, 2024 31,886 1,225 1,826 1,283 139.0 45 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 34,000 1,500 1,850 1,050 114.5 45 Apr 12, 2024 J-GAAP
YoY +6.6% +22.4% +1.3% -18.2% -17.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 7,790 271 538 345 37.4 3.5 Oct 12, 2023 J-GAAP
Sep - Nov, 2023 8,345 522 766 766 83.0 6.3 Jan 15, 2024 J-GAAP
Dec - Feb, 2023 8,155 175 127 -52 -5.6 2.1 Apr 12, 2024 J-GAAP
Mar - May, 2024 8,254 189 450 250 27.2 2.3 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 8,848 482 515 326 35.5 5.4 Oct 11, 2024 J-GAAP
YoY +13.6% +77.9% -4.3% -5.5% -5.0%

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