Fast Retailing Q1 Profit Rises 64% - Fast Retailing Co (OTC:FRCOY)

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Fast Retailing Co. Ltd.

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(OTC: FRCOY) reported a 64% gain in its net profit for the fiscal first quarter.Fast Retailing's quarterly net profit surged to Y68.83 billion, versus a year-ago profit of Y42.00 billion.Its sales gained 23% to Y479.54 billion from Y389.05 billion.For the current business year, the company projects 16% growth in revenue to Y1.6 trillion and net profit to rise 34% to Y100 billion.Fast Retailing shares gained 2.03% to close at $36.77 yesterday.