PAL GROUP Holdings CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 14%, Adds to Record High Profit Forecast

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Tue Oct 15, 2024 3:00 pm JST Earnings

2726 PAL GROUP Holdings CO.,LTD. 【J-GAAP】

Earnings Report

PAL GROUP Holdings CO.,LTD. <2726> [TSE-P] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 15.1% from the same period last year, reaching 11.9 billion yen, resulting in an increase in profits compared to the previous forecast of a 10.6% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 14.2%, from the previous forecast of 20.3 billion yen to 23.2 billion yen (compared to 18.8 billion yen in the previous period), increasing the growth rate from 8.1% to 23.5%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to expand by 33.7% from the same period last year, reaching 11.3 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 21.6% from the same period last year, reaching 5.53 billion yen. The operating profit margin improved from 9.7% in the same period last year to 11.0%.

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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	78,193	7,582	7,710	4,808	54.7	48.0	Oct 12, 2022	J-GAAP
Mar - Aug, 2023	94,145	10,299	10,384	7,001	79.9	55.1	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	101,259	11,806	11,956	7,668	88.3	51.4	Oct 15, 2024	J-GAAP
YoY	+7.6%	+14.6%	+15.1%	+9.5%	+10.5%

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	99,210	9,180	9,280	5,880	67.7	0	Apr 9, 2024	J-GAAP
Mar - Aug, 2024 Results	101,259	11,806	11,956	7,668	88.3	0	Oct 15, 2024	J-GAAP
Revision Rate	+2.1%	+28.6%	+28.8%	+30.4%	+30.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	203,500	20,120	20,370	12,940	149.0	50	Apr 9, 2024	J-GAAP
Feb, 2025 New	209,220	22,960	23,260	14,820	170.7	50	Oct 15, 2024	J-GAAP
Revision Rate	+2.8%	+14.1%	+14.2%	+14.5%	+14.5%

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	98,399	8,306	8,455	5,844	67.0	50	Apr 9, 2024	J-GAAP
Sep - Feb, 2024 Guidance	107,961	11,154	11,304	7,152	82.4	50	Oct 15, 2024	J-GAAP
YoY	+9.7%	+34.3%	+33.7%	+22.4%	+22.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	164,482	15,822	16,061	9,955	113.3	37.50	Apr 11, 2023	J-GAAP
Feb, 2024	192,544	18,605	18,839	12,845	147.3	50	Apr 9, 2024	J-GAAP
Feb, 2025 Guidance	209,220	22,960	23,260	14,820	170.7	50	Oct 15, 2024	J-GAAP
YoY	+8.7%	+23.4%	+23.5%	+15.4%	+15.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	47,154	4,592	4,551	2,952	33.7	9.7	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	48,400	5,249	5,377	3,352	38.4	10.8	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	49,999	3,057	3,078	2,492	28.6	6.1	Apr 9, 2024	J-GAAP
Mar - May, 2024	51,441	6,306	6,422	4,198	48.4	12.3	Jul 30, 2024	J-GAAP
Jun - Aug, 2024	49,818	5,500	5,534	3,470	40.0	11.0	Oct 15, 2024	J-GAAP
YoY	+5.6%	+19.8%	+21.6%	+17.5%	+18.6%