Friday, July 10, 2020
Martin Hennecke

Year of growth for Fast Retailing
<p>Fast Retailing (6288), the arm of Uniqlo and GU, saw its net profit rise 5 percent from a year ago to 162.58 billion yen (HK$11.88 billion) over the 12 months through August, with a final dividend of 240 yen, on a par with that of last year.</p><p>The full-year dividend was up 9 percent year-on-year to 480 yen, representing a 30.1 percent dividend payout ratio. Basic earnings per share amounted to 1,593.2 yen.</p><p>The group&#39;s revenue climbed 7.5 percent year-on-year to 2.29 trillion yen, and the operating profit rose 9.1 percent from a year ago to 257.64 billion yen, primarily bolstered by the overseas business of Uniqlo and robust growth in GU&#39;s revenue and operating profit.</p><p>Uniqlo Greater China, the key pillar for its growth, reported revenue growth of 14.3 percent year-on-year to 502.5 billion yen. Operating profit rose by 20.8 percent to 89 billion yen.</p><p>Uniqlo Japan&#39;s revenue totaled 872.9 billion yen, up 0.9 percent year-on-year, while the operating profit declined 13.9 percent from a year ago to 102.4 billion yen. Both revenue and profit declined at Uniqlo South Korea, due to a boycott of Japanese goods in South Korea.</p><p>GU revenue jumped 12.7 percent to 238.7 billion yen in 2019, and operating profit rose 139.2 percent to 28.1 billion yen. This was due to its decisions to switch the focus of GU&#39;s product mix to mass fashion trends and to strengthen marketing. Operating profit margin improved by 6.2 points year-on-year to 11.8 percent.</p>

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