Nafco sees Q1 profit jump despite revenue decline

Nafco recorded operating revenue of 47,064 million yen in Q1, down 3.3% year-on-year. However, operating profit surged 20.7% to 1,823 million yen and ordinary profit rose 17.7% to 1,797 million yen.

Net income fell 20.5% to 766 million yen for the quarter ending June 30.

The company forecasts full-year operating revenue of 173,080 million yen, with operating profit projected at 2,700 million yen.