AND ST Holdings posts a 34.6% jump in H1 operating profit as markdown discipline lifts margin, but a payment to retiring directors holds net income flat
AND ST Holdings, the Tokyo-listed group behind Adastria's GLOBAL WORK, niko and..., LOWRYS FARM and studio CLIP, posted a 34.6% rise in operating profit for the six months to August as tighter inventory control and reduced markdowns lifted its gross margin to 56.5% -- even as a ¥1.23bn special payment tied to retiring directors left net income essentially flat.
AND ST Holdings Co., Ltd. (株式会社アンドエスティHD), the Tokyo-listed group whose Adastria subsidiary runs casual-fashion chains GLOBAL WORK, niko and..., LOWRYS FARM and studio CLIP, said operating profit rose 34.6% to ¥10.731bn in the six months to August 31, even as revenue grew a more modest 1.9% to ¥152.11bn, according to the company's interim (決算短信) results, filed September 30.