Descente, the Japanese sportswear company with a portfolio of sportswear brands that it markets primarily in Japan, South Korea and China, reported a net profit increase of 106 percent to ¥5,132 million (€37.0m) from ¥2,487 million for the six months ended Sept. 30. First half operating income improved 80 percent to ¥4,895 million (€35.2m) from ¥2,714 million.
Revenues were 14.6 percent higher at ¥57,210 million (€411.9m) versus ¥49,926 million. Second quarter sales, meanwhile, increased 12.2 percent to ¥30,785 million (€221.7m) from ¥27,445 million. On a percentage basis, Umbro (+44%) to ¥59 billion, Descente (+13%) to ¥238 billion, and Le Coq Sportif (+11%) to ¥148 billion paced H1 sales growth.
The group has raised its full-year outlook for the 12 months ending in March 2023. Annual revenues are now pegged at ¥118,00 million versus an Aug. forecast of ¥116,500 million. Annual operating income is forecast at ¥8,100 million presently, up from a prior outlook of ¥6,700. FY net profit to shareholders is now projected at ¥10,000 million, up from a prior forecast of ¥9,500 million.
