Alpha Group Inc., First Half Ordinary Profit Unexpectedly Revised Upward by 8%

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Wed Nov 13, 2024 3:30 pm JST Earnings

3322 Alpha Group Inc. 【J-GAAP】

Earnings Report

Alpha Group Inc. <3322> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 8.4% from the same period last year, reaching 349 million yen, resulting in an increase in profits compared to the previous forecast of a 0.3% decrease.

However, The progress rate against the 803 million yen full-year plan was 43.5%, also falling below the five-year average of 51.8%.

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 October to March period (second half) is expected to grow by 7.1% from the same period last year, reaching 454 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.1% from the same period last year, reaching 160 million yen. The operating profit margin remained almost flat, changing from 3.9% in the same period last year to 4.1%.

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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	6,295	298	320	192	34.0	58.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	6,623	305	322	151	27.6	43.2	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	7,083	330	349	160	33.7	43.5	Nov 13, 2024	J-GAAP
YoY	+6.9%	+8.2%	+8.4%	+6.0%	+22.3%

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	6,643	303	321	184	38.7	0	Aug 13, 2024	J-GAAP
Apr - Sep, 2024 Results	7,083	330	349	160	33.7	0	Nov 13, 2024	J-GAAP
Revision Rate	+6.6%	+8.9%	+8.7%	-13.0%	-13.0%

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	7,289	405	424	250	48.6	18	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	7,386	418	454	335	70.5	18	Nov 13, 2024	J-GAAP
YoY	+1.3%	+3.2%	+7.1%	+34.0%	+44.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	13,561	570	548	233	41.4	12	May 15, 2023	J-GAAP
Mar, 2024	13,912	710	746	401	78.0	18	May 15, 2024	J-GAAP
Mar, 2025 Guidance	14,469	748	803	495	104.2	18	Aug 13, 2024	J-GAAP
YoY	+4.0%	+5.4%	+7.6%	+23.4%	+33.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,419	134	139	56	10.2	3.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	3,659	193	203	156	29.7	5.3	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	3,630	212	221	94	18.3	5.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,413	181	189	86	18.2	5.3	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	3,670	149	160	74	15.6	4.1	Nov 13, 2024	J-GAAP
YoY	+7.3%	+11.2%	+15.1%	+32.1%	+52.4%