Feedforce Group, First Half Ordinary Profit Increases by 2%

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Thu Dec 26, 2024 3:30 pm JST Earnings

7068 Feedforce Group Inc. 【J-GAAP】

Earnings Report

Feedforce Group Inc. <7068> [TSE Growth] announced its financial results after the market closed on December 26th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) was 637 million yen, a 2.4% increase compared to the same period last year. However, the progress rate toward the full-year plan of 1.78 billion yen was 35.8%, also falling below the five-year average of 40.3%.

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 December to May period (2H) is expected to surge 2.1 times that of the same period last year, reaching 1.14 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit amounted to 297 million yen, a 1.0% decrease compared to the same period last year. However, the operating profit margin rose from 29.0% in the same period last year to 30.5%.

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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
Jun - Nov, 2022	1,880	402	398	-116	-4.5	39.0	Dec 28, 2022	J-GAAP
Jun - Nov, 2023	2,143	647	622	175	6.7	53.3	Dec 27, 2023	J-GAAP
Jun - Nov, 2024	2,084	666	637	400	15.8	35.8	Dec 26, 2024	J-GAAP
YoY	-2.8%	+2.9%	+2.4%	+128.6%	+134.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	2,144	754	744	490	19.3	5	Nov 21, 2024	J-GAAP
Jun - Nov, 2024 Results	2,084	666	637	400	15.8	5	Dec 26, 2024	J-GAAP
Revision Rate	-2.8%	-11.7%	-14.4%	-18.4%	-18.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	2,086	590	544	298	11.5	0	Jun 27, 2024	J-GAAP
Dec - May, 2024 Guidance	2,496	1,134	1,144	772	30.9	5	Dec 26, 2024	J-GAAP
YoY	+19.7%	+92.2%	+110.3%	+159.1%	+168.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	3,966	1,029	1,020	112	4.3	0	Jun 29, 2023	J-GAAP
May, 2024	4,229	1,237	1,166	473	18.2	0	Jun 27, 2024	J-GAAP
May, 2025 Guidance	4,580	1,800	1,781	1,172	46.9	10	Nov 21, 2024	J-GAAP
YoY	+8.3%	+45.5%	+52.7%	+147.8%	+157.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	1,077	312	300	-125	-4.8	29.0	Dec 27, 2023	J-GAAP
Dec - Feb, 2023	987	238	228	107	4.1	24.1	Mar 28, 2024	J-GAAP
Mar - May, 2024	1,099	352	316	191	7.4	32.0	Jun 27, 2024	J-GAAP
Jun - Aug, 2024	1,052	351	340	196	7.7	33.4	Sep 26, 2024	J-GAAP
Sep - Nov, 2024	1,032	315	297	204	8.0	30.5	Dec 26, 2024	J-GAAP
YoY	-4.2%	+1.0%	-1.0%	－	－