Premium Group exceeds plan with strong Q1 results

Premium Group reported first quarter consolidated operating revenue of 10.3bn yen, exceeding its plan, with operating profit of 1.6bn yen and pre-tax profit of 1.7bn yen.

Excluding one-time system issues, pre-tax profit rose 29.5% year-on-year. Deferred revenue increased 15.0% to 640m yen, while credit handling volume grew 15.0% and warranty handling volume expanded 17.9%.

System-related costs were 72m yen for the quarter, projected to decrease from Q2 onwards.