Hiroshima Electric Railway has raised its full-year ordinary profit outlook by 18% and is now expected to secure a full-year profit together with its first-half results. Cumulative second-quarter ordinary profit surged to ¥510 million, 47 times the year-earlier figure.
Hiroshima Electric Railway announced its earnings during the afternoon session on 13 November, reporting consolidated ordinary profit of ¥510 million, 47 times the year-earlier figure. In response, it revised its full-year ordinary profit forecast upward by 18.4%, from a previous forecast of a ¥870 million profit to a ¥1.03 billion profit.
Together with the first-half results, the second-half outlook is calculated to maintain a ¥510 million profit, with a return to profitability expected from the ¥140 million loss recorded in the year-earlier period.
In the latest three-month period, July-September, consolidated ordinary profit was ¥130 million, while the operating margin on sales improved to 1.9% from -1.3% in the year-earlier period.
The outlook for the remainder of the fiscal year is based on second-half performance, with the company planning to secure a full-year profit.