NH Foods reports 11.5% jump in quarterly business profit

NH Foods reported business profit of ¥16.2bn for the three months ended June 30, up 11.5% year-over-year, driven by strong domestic chicken and pork prices and increased Australian beef production.

Net sales rose 4.8% to ¥354.1bn, though profit attributable to owners fell 12.5% to ¥11.4bn.

The company bought back 408,400 shares for ¥2bn in late July as part of a program to repurchase up to 6m shares.