Dainichiseika Color & Chemicals Mfg. Co., Ltd. announced its earnings after the market close on 6 August. Consolidated ordinary profit increased year on year in the first quarter, prompting the company to revise upward both its first-half and full-year earnings forecasts.
Dainichiseika Color & Chemicals Mfg. Co., Ltd. reported consolidated ordinary profit of ¥3.67 billion for the April-June quarter, up 33.9% year on year. In response, it substantially raised its ordinary profit forecast for the first half ending September from the previous forecast of ¥4.5 billion to ¥7.4 billion. Ordinary profit in the same period last year was ¥4.48 billion, so the growth rate is expected to expand to approximately 64.8%.
The full-year ordinary profit forecast was also revised upward from ¥9.5 billion to ¥12.4 billion, with the growth rate expected to increase to approximately 46.1%. In addition, the profit margin on sales improved from 7.9% to 9.4% based on results for the most recent three months, compared with sales in the first quarter.
Following the revisions, the company indicated that there is considerable room for improvement in its earnings outlook for both the first half and the full year. Kabutan News reported the key points of the earnings release.