Oug Holdings reports 123% operating profit surge

Oug Holdings reported first-quarter net sales of 82.6 billion yen, up 3.4% year-on-year, with operating profit surging 122.8% to 1.2 billion yen.

Net profit attributable to shareholders rose 98.7% to 984 million yen. The strong performance was driven by increased marine product sales and the aquaculture business returning to profitability due to higher selling prices.

The company maintained its full-year forecasts of 345 billion yen in net sales and 4.5 billion yen ordinary profit.