Grandy House Corporation, First Half Ordinary Profit Decreases by 46%, July-September Ordinary Profit Decreases by 14%

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Wed Nov 13, 2024 3:30 pm JST Earnings

8999 Grandy House Corporation 【J-GAAP】

Earnings Report

Grandy House Corporation <8999> [TSE-P] 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) dropped by 45.7% from the same period last year to 255 million yen. The progress rate against the 1 billion yen full-year plan was 25.5%, also falling below the five-year average of 49.2%.

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 expand by 83.0% from the same period last year, reaching 745 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 230 million yen, a 13.9% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 2.5% in the same period last year to 2.2%.

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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	27,632	1,882	1,785	1,245	42.9	57.5	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	24,726	583	470	251	8.7	53.6	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	26,983	434	255	77	2.7	25.5	Nov 13, 2024	J-GAAP
YoY	+9.1%	-25.6%	-45.7%	-69.3%	-68.4%

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	－	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	26,983	434	255	77	2.7	0	Nov 13, 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	26,795	592	407	165	5.8	32	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	27,017	866	745	523	18.3	32	Nov 13, 2024	J-GAAP
YoY	+0.8%	+46.3%	+83.0%	+217.0%	+216.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	55,205	3,329	3,103	2,168	74.5	32	May 12, 2023	J-GAAP
Mar, 2024	51,521	1,175	877	416	14.5	32	May 13, 2024	J-GAAP
Mar, 2025 Guidance	54,000	1,300	1,000	600	21.0	32	May 13, 2024	J-GAAP
YoY	+4.8%	+10.6%	+14.0%	+44.2%	+44.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,925	319	267	143	4.9	2.5	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	12,776	198	116	63	2.2	1.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	14,019	394	291	102	3.6	2.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	12,832	116	25	-59	-2.1	0.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	14,151	318	230	136	4.8	2.2	Nov 13, 2024	J-GAAP
YoY	+9.5%	-0.3%	-13.9%	-4.9%	-2.2%