April 12, 2018 / 6:12 AM / 12 days ago

Japan's Fast Retailing reports 35 pct Q2 profit rise, raises annual forecast

TOKYO, April 12 (Reuters) - Japan’s Fast Retailing Co , owner of clothing chain Uniqlo, on Thursday posted a 35 percent rise in second-quarter operating profit and upgraded its full year forecast by 13 percent as overseas sales took the lead in driving growth.

Operating profit at Asia’s biggest clothing retailer was around 56.6 billion yen ($529.47 million) in the quarter ended February, Reuters calculations based on company data showed.

That was above a consensus estimate of 49.1 billion yen from eight analysts polled by Thomson Reuters I/B/E/S.

Fast Retailing upgraded its full-year operating profit forecast to 225 billion yen from 200 billion yen previously. Analysts see profit hitting 221.4 billion yen. ($1 = 106.9000 yen) (Reporting by Sam Nussey; Editing by Stephen Coates and Christopher Cushing)

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