Nichirei Corp. said Tuesday its group net profit in fiscal 2002 rose 28.4 percent from the previous year, thanks to the strong performance of its processed food and food wholesale divisions.
Nichirei reported a group net profit of 5.22 billion yen, or 16.16 yen per share, against the previous year's 4.06 billion yen. It recorded sales of 563.44 billion yen, up 0.9 percent.
Pretax profit rose 39.4 percent to 16.28 billion yen.
Nichirei said that all-out cost controls in areas ranging from procurement to distribution in the mainline processed food business helped boost operating profit 30.4 percent to 18.28 billion yen.
Higher sales of acerola drinks amid rising demand for health-oriented foods and beverages also contributed to improved profitability, the company said.