- Wednesday, October 16, 2024
Unicharm, the Japanese manufacturer of diapers and hygiene products, saw a significant boost in its shares on Monday morning as it announced a strong 9.1% increase in net profit for the first half of the year. This success can be attributed to the company's successful implementation of price increases.
Currently, Unicharm shares are up by 8.2% at 5,710 yen, having experienced a peak increase of 12% earlier.
According to the company's announcement after Friday's market close, net profit has risen to Y34.67 billion ($244.6 million), surpassing the Y31.76 billion recorded during the same period the previous year.
Unicharm attributes its profit growth to price hikes in Japan's baby diapers and pet-care products. Additionally, the company witnessed strong sales of napkins and other female hygiene products in the rest of Asia. However, an increase in raw material costs exerted pressure on earnings.
During the first half, Unicharm achieved a 7.7% rise in revenue, reaching Y453.94 billion.
Despite these impressive results, Unicharm has maintained its earnings forecasts for 2023. The company anticipates a 7.3% increase in revenue, amounting to Y963.50 billion, and a 20% rise in net profit, totaling Y80.90 billion.
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