OUG Holdings 1Q: Contracted Revenues, but Improved Operating Loss
August 14, 2013
The quarterly results of Osaka-based company, OUG Holdings (President Masatoshi Tanigawa) included reduced sales, nevertheless operating loss improved on account of hard work exhibited by the seafood wholesaling division.
Turnover dropped 0.3 percentage points YOY to 71.1 billion yen and operating loss was 60 million yen, which was 444 million yen in operating deficit in the corresponding period last year. Ordinary loss of 8 million yen was reported (ordinary loss of 389 million yen last year) and net loss was 200 million yen, as opposed to net loss of 596 million yen.
Sales cited by seafood wholesaling operation were a decline of 1.9 percent, totaling 44.1 million yen. The segment however managed to pull off a profitable business, from a loss of 217 million yen last year to a profit of 149 million yen this year. An improved gross profit margin and expense cutbacks helped the positive result.
Seafood wholesaling outside of fish markets racked up a 1.8 percent gain in sales. Transaction amounts slumped, but selling prices went upwards. A lower gross profit margin however led to a profit deficit of 136 million yen, in contrast with a profit loss of 177 million yen a year ago.
Aquaculture operation marked a significant increase in revenues amounting to 1.372 million yen, up 26.7 percent. Nonetheless, skyrocketing prices of feed contributed to a profit loss of 71 million yen that was a deficit of 129 million yen a year ago. A hike of 5.2 percent in sales totaling 1.099 billion yen was reported by processed food operation. A segmental deficit remained unchanged from the prior year (41 million yen) at 42 million yen in the first quarter.
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