BULL-DOG SAUCE CO.,LTD., First Half Operating Profit Turns to Loss, July-September Operating Profit Decreases by 73%

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Fri Oct 25, 2024 3:00 pm JST Earnings

2804 BULL-DOG SAUCE CO.,LTD. 【J-GAAP】

Earnings Report

BULL-DOG SAUCE CO.,LTD. <2804> [TSE-P] announced its financial results after the market closed on October 25th (15:00). The consolidated operating profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 60 million yen (compared to a profit of 361 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated operating profit/loss for the October to March period (second half) is expected to turn into a profit of 360 million yen (compared to a loss of 198 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated operating profit significantly dropped to 43 million yen, a 73.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.5% in the same period last year to 1.2%.

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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
Apr - Sep, 2022	6,656	150	559	361	27.1	45.3	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	7,257	361	485	52	4.0	72.0	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	7,312	-60	247	183	13.7	35.3	Oct 25, 2024	J-GAAP
YoY	+0.8%	－	-49.1%	+251.9%	+247.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	17	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	7,312	-60	247	183	13.7	17	Oct 25, 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
Oct - Mar, 2023	7,225	-198	189	93	7.0	18	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	7,738	360	453	307	23.3	18	Oct 25, 2024	J-GAAP
YoY	+7.1%	－	+139.7%	+230.1%	+234.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,529	430	1,234	595	44.6	35	May 15, 2023	J-GAAP
Mar, 2024	14,482	163	674	145	10.9	35	May 15, 2024	J-GAAP
Mar, 2025 Guidance	15,050	300	700	490	37.2	35	May 15, 2024	J-GAAP
YoY	+3.9%	+84.0%	+3.9%	+237.9%	+241.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,633	162	166	-83	-6.3	4.5	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	3,796	-41	49	-1	-0.1	-1.1	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	3,429	-157	140	94	7.1	-4.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,632	-103	12	13	1.0	-2.8	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	3,680	43	235	170	12.8	1.2	Oct 25, 2024	J-GAAP
YoY	+1.3%	-73.5%	+41.6%	－	－