TOKYO (dpa-AFX) - Ajinomoto Co., Inc. (AJINF) Monday reported Profit before taxes of 48.072 billion yen for the first quarter, higher than 39.825 billion yen in the same quarter a year ago, primarily helped by lower cost of sales.
Business profit increased 9.7% to 47.236 billion yen from 43.073 billion yen in the prior year.
Net profit rose to 32.218 billion yen or 32.62 yen per share from 23.967 billion yen or 23.49 yen per share last year.
Sales for the quarter, however, declined 0.4% to 364.008 billion yen from 365.508 billion yen in the previous year.
For the full year, the company expects sales to increase 5.7% to 1,618 billion yen. Net profit is expected to increase 70.7% to 120 billion yen with basic earnings per share of 123.55 yen per share.
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