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Investing.com -- Nextage reported first quarter results that exceeded the company’s guidance, with operating profit beating by ¥0.6 billion and gross profit by ¥0.1 billion.
For the first half, the company’s performance was even stronger, with operating profit exceeding guidance by ¥2.1 billion and gross profit by ¥1.2 billion. This indicates particularly robust gross profit performance in the second quarter.
The strong results were driven by healthy retail volumes, which received a boost from the introduction of quarterly sales volume incentives for employees that began this fiscal year.
In February, Nextage provided feedback to employees based on December-February results, which appears to have improved the closure rate during the March-May period.
The company also saw a reduction in selling, general and administrative (SG&A) expenses due to a decrease in employee turnover rate, which led to lower recruitment costs.
The quarterly results demonstrated improvement in both quantitative and qualitative aspects of Nextage’s earnings performance.
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