Yamazaki Baking, the Japan-based bakery group, has reported improved first-half revenue and profits, with only sales of its “western-style confectionery” lines falling year-on-year.
The company breaks its core food business into six product groups. Sales grew in five of the six categories, although Yamazaki Baking revealed sales of western-style confectionery – products including Swiss rolls and cream puffs – dipped 0.2%.
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Company-wide net sales rose 2.4% to JPY520.69bn (US$5.15bn). Operating income was up 50.8% at JPY19.49bn.
Net profit more than doubled from JPY3.99bn in the first half of 2015 to JPY9.4bn.
Yamazaki Baking expects its net sales and earnings to grow in 2016. It has forecast a 2.3% rise in full-year net sales to JPY1.05trn, a 25.9% increase in operating income to JPY34bn and a 53.2% jump in net income to JPY17bn.
The group has recently expanded its operations in the US, buying local firm Bakewise Brands from private-equity firm Ancor Capital Partners and investment fund Merit Capital Partners.
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