Uniqlo owner Fast Retailing, has recorded a 38.6% spike in its profits owing to growth in its Asian markets.
The parent company of Uniqlo, which is based in Japan, said operating profit surged to 176.4 billion yen (£1,19 billion) for its financial year to August 31st, boosted by a 4.2% rise in consolidated revenue to 1.86 trillion yen (£12.55 billion).
The company’s profit before income taxes rose to 193.3 billion yen (£1.3 billion), an 114.3% increase.
Fast Retailing said its Uniqlo International division almost doubled its operating profit to 73.1 billion yen (£494.13 million), a 95.4% increase, and drove its overall group performance.
Uniqlo International revenue also rose 8.1% to 708.1 billion yen (£4.79 billion).
On the back of sturdy growth, the company has forecast a 13.4% rise in operating profit for the current financial year.
