Iotham Sees Income Rise13 February 2013
JAPAN - Japanese meat processor Iotham has seen a rise in net income over the first nine months of the financial year despite a drop of nearly ¥8 billion in sales.
In the nine months to the end of December 201, Iotham saw sales of ¥342.519 billion compared to ¥350.744 billion in the same period in 2011.
However, net income for the period was ¥5.124 billion compared to ¥4.160 in 2011.
During the period Iotham managed to reduce administrative expenses by nearly ¥2 billion and also reduced the losses from restructuring costs.
The company forecasts that net sales to the end of the year will reach ¥440 billion although net income could drop to ¥4 billion.
TheMeatSite News Desk