東邦化学工業 raised its first-half earnings forecast for the current fiscal year. Operating profit is expected to rise from the previous forecast of ¥1.4 billion to ¥1.79 billion, while net income is expected to increase from ¥1.25 billion to ¥1.46 billion. Revenue is forecast at ¥30.2 billion, while the full-year forecast remains undecided and is scheduled to be released when first-half results are announced on 9 November.
東邦化学工業, a major surfactant manufacturer, revised its consolidated earnings forecast for the first half of 2023 upward. Its operating profit forecast was raised from the previous forecast of ¥1.4 billion to ¥1.79 billion, while its net income forecast was increased from ¥1.25 billion to ¥1.46 billion.
The main factor behind the upward revision was a slight decline in raw material prices in the second quarter, which improved profit margins. Revenue is forecast at ¥30.2 billion, up 16.0% year on year, broadly in line with the previous forecast of ¥30.0 billion.
The full-year earnings forecast is under review and is scheduled to be released when first-half results are announced. The results announcement is expected to take place on 9 November.
The information was provided by Wealth Advisor, which was cited as the supporting source.