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Aeon Reports 70% Decline In Q1 Net Profit

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Aeon Co Ltd (OTC: AONNY) reported a 70% drop in its net profit for the fiscal first quarter ended May.

Aeon's net profit declined to Y5.76 billion, from Y19.27 billion, in the year-earlier period. Its revenue dropped 1.2% y/y to Y1.200 trillion from Y1.215 trillion.

For the full business year ending February 2012, Aeon now projects a net profit of Y50 billion, versus an earlier forecast for Y40 billion.

AONNY shares fell 0.17% to close at $11.97 yesterday.

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