TOKYO: The Japanese owner of clothing brand Uniqlo said on Thursday that quarterly profit rose 29.4% just before the Middle East crisis roiled global markets and supply chains, and raised its full-year forecast on strong international growth.

Fast Retailing said its operating profit rose to 189.8 billion yen ($1.19 billion) in the three months through February from 146.7 billion yen a year earlier, and beat an average estimate of 161.6 billion yen from seven analysts, compiled by LSEG.

The company raised its full-year operating profit forecast to 700 billion yen from 650 billion yen, putting the retailer on track for a fifth consecutive year of record earnings.

Its second-quarter ended just before the start of U.S.-Israeli air strikes on Iran, a conflict that has sent oil prices soaring and upended supply chains. Markets are now on tenterhooks amid uncertainty over the prospect of a permanent peace deal.

Investors will be looking at how the Iran crisis will impact costs for Uniqlo, known for its inexpensive fleeces and everyday basics, many of which are made with polyester.

Teijin Frontier, a Japan-based supplier to the company, said on Tuesday it would raise prices on polyester fibre by 20% due to higher oil prices.