Seven & I Reports 7.3% Decline In Net Profit

Seven & I Holdings Co (OTC: SVNDF) reported a 7.3% drop in its net profit for the first nine months of its fiscal year.

Seven & I's net profit for the period declind to Y83.7 billion, from Y90.2 billion, in the year-earlier period. Its operating profit surged to Y216.2 billion from Y175.8 billion. Its revenue dropped to Y3.55 trillion from Y3.83 trillion.

Seven & I continues to expect a net profit of Y127 billion, versus Y112 billion for the 12 months ended February 2011. However, it projects revenue to drop to Y4.78 trillion, versus Y5.12 trillion a year earlier.