PHC Holdings revised its full-year consolidated net income forecast upward from its previous projection, with a record profit expected for the first time in 6 fiscal years. Results for the first 2 quarters also showed a return to profitability.
PHC Holdings released its IFRS-based earnings results after the market close on 11 November. Consolidated net income for the first 2 quarters (April-September) was ¥13.3 billion, compared with a net loss of ¥550 million in the same period last year. The full-year net income forecast was raised from the previous projection of ¥15.4 billion to ¥18.0 billion, expanding the earnings growth multiple from 31x to 37x, with a record profit expected for the first time in 6 fiscal years.
Based on first-half results and the second-half plan, consolidated net income for the second half is calculated to surge 4.5-fold year on year to ¥4.68 billion. Net income for the most recent 3 months, July-September, was ¥6.97 billion, while the operating margin on sales improved from 7.3% to 10.1%.