July 27, 2009
Japan's seafood co Maruha Nichiro eyes Q2 profit of US$21 million
Japanese seafood firm Maruha Nichiro Holdings Inc is seen to earn a group operating profit of around two billion yen (US$21 million) in the April-June quarter after an operating loss of 1.5 billion yen in the January-March period. The company saw strong demand for frozen foods in the second quarter, while efforts to cut back inventory holding times also helped.
Nevertheless, the two billion yen operating profit translates to a nearly 70 per cent plunge from a year earlier.
Sales are believed to have risen five percent from the January-March period to slightly more than 200 billion yen, with canned foods, as well as jelly and other dessert products, enjoying strong demand.
