Seven & I Posts Surge In Profit

Seven & I Holdings Co SVNDY reported a rise in its operating profit for the year ended February. Seven & i posted a 16% rise in net profit to Y129.84 billion, versus a year-ago profit of Y111.96 billion. Its operating profit surged 20% to Y292.06 billion, while revenue declined 6.5% to Y4.786 trillion versus Y5.120 trillion. For the full fiscal year, Seven & I expects a 19% rise in net profit to Y155 billion. It projects a 7.9% gain in operating profit to Y315 billion. Seven & i expects revenue to increase 5.7% to Y5.060 trillion. Seven & I shares closed at $58.45 yesterday.