Kao's net profit grew 5.7% to $141 million at for the first quarter of fiscal 2011, ended June 30, 2010. Sales for the period increased 1% to $3.28 billion. Operating profit grew to $295.8 million.
The company's beauty care division posted an operating income of $20.3 million. Sales for the division, which includes the Kanebo and Jergens brands, totaled $1.48 billion, down 2.2%. Kao attributed the drop in beauty care sales to the continued contraction of Japan’s high-end cosmetics market and shift in consumer preference to lower priced products.
The complete report is available from the company.
