Kagome H1 revenue falls 6.4% on international downturn

Kagome's first-half revenue fell 6.4% to 138.7bn yen, with core operating income plunging 32.7% to 10.4bn yen.

The decline was driven by international business revenue dropping 18.4% to 62.1bn yen due to lower tomato paste prices. Domestic processed food revenue edged up 0.5% to 73bn yen, but operating income fell 28% on rising raw material costs.

The company maintained its full-year forecasts of 300bn yen revenue and 24bn yen core operating income.