Jins' Profit Slides 10% in Fiscal H1; Cuts Full-Year Forecasts
Jins' (TYO:3046) profit attributable to owners of the parent slid 10% to 3.39 billion yen for the fiscal first half from 3.79 billion yen a year earlier.The eyewear retailer's earnings per share declined to 145.36 yen from 162.17 yen a year ago, according to a Tokyo bourse filing on Friday.Net sales jumped 13% to 50.5 billion yen for the six months ended Feb. 28 from 44.8 billion yen in the prior year.In a separate filing, Jins lowered its forecasts for the full fiscal year ending Aug. 31, after its first half fell short of expectations due to a one-off factor in the domestic eyewear business.The company now expects an attributable profit of 8.62 billion yen from 8.82 billion yen previously, EPS of 369.39 yen from 377.87 yen, and net sales of 110.4 billion yen from 111.7 billion yen.Jins plans to pay a year-end dividend of 68 yen per share for the current year, which is higher than the 59 yen paid in the prior-year period.