By Kosaku Narioka

Fast Retailing Co.'s fiscal-year net profit jumped 88%, thanks to a recovery from a sales slump caused by the pandemic.

The Uniqlo-store operator said Thursday that net profit rose to 169.85 billion yen ($1.50 billion) for the year ended Aug. 31, from Y90.36 billion a year earlier, when the Covid-19 pandemic had hit sales hard.

Fourth-quarter net profit was Y18.50 billion, given net profit of Y151.35 billion in the preceding nine-month period, according to a Wall Street Journal calculation. That beat the estimate of Y13.62 billion from a FactSet poll of analysts.

Fiscal-year revenue increased 6.2% to Y2.133 trillion. The recovery was led by China. Uniqlo revenue for China, Hong Kong and Taiwan rose 17% to Y532.25 billion.

The company's fourth-quarter revenue was Y434.91 billion, given revenue of Y1.698 trillion in the preceding nine-month period.

Fast Retailing expects revenue to increase 3.1% to Y2.200 trillion and net profit to rise 3.0% to Y175.00 billion for the new fiscal year that started Sept. 1.

The company said it expected some pandemic-related impact to continue in the first half, but projected revenue and earnings growth for its second half.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

10-14-21 0257ET