Fast Retailing profit climbs 60% in 2022

Its net profit amounted to JPY273.3b ($1.855b).

Fast Retailing reported its net profit attributable to owners grew by 60.9% to JPY273.3b ($1.855b) in 2022. 

Over the same period, the company registered a 7.9% revenue growth to JPY2.301t ($15.62). 

“Sales recovered steadily in all markets as demand for clothing picked up globally, and we consistently strengthened the branding of our LifeWear and responded flexibly to changes in production and distribution environments,” the company reported.

Read more: Fast Retailing profit grows 12.7% to ¥189.2b in H1 2022

The company also announced it will distribute dividends worth JPY620 ($4.20) per share, which covers the scheduled year-end dividend of JPY340 per share on top of its JPY280 ($1.90) interim dividend. 

For 2023, the company projected that it will see a revenue growth of 15.2% to JPY2.6500t ($17.98b) and operating profit growth of 17.7%  to JPY350b ($2.37b). 

Fast Retailing, however, expects its profit attributable to owners to declined 15.9% to JPY230b ($1.56b).