B&P grows first-half sales, but profit slips as its second-half catch-up case stays intact
B&P reported first-half revenue of 2,249 million yen, with operating profit down 4.5% to 336 million yen and net profit down 5.0% to 230 million yen. Management kept the full-year plan unchanged and said the second quarter improved as customers stepped up sales-promotion activity before the March year-end, after an early lull and a tough Expo-related comparison. The comparison with last year is not fully like-for-like because of the timing of the Idei consolidation. Still, the message is simple: sales are holding up, profit is softer, and management needs the second half to do more of the work.