Meitec Group Holdings raised its forecast for consolidated ordinary profit for April-September from ¥9.6 billion to ¥10.2 billion. First-half profit is now expected to reach a record high.
Meitec Group Holdings announced an earnings forecast revision around midday on 29 September. Consolidated ordinary profit for April-September is now expected to reach ¥10.2 billion, exceeding the previous forecast of ¥9.6 billion and slightly surpassing the ¥10.1 billion recorded in the same period of the previous year. This raises the possibility of a record first-half profit.
Full-year ordinary profit guidance was left unchanged at the previous forecast of ¥20.7 billion. While the first-half figure has been raised from the previous outlook, the full-year assumptions remain unchanged and the forecast issued at the beginning of the fiscal year has been maintained.
As the reason for the revision, operating hours in the engineering solutions business, particularly engineer dispatch services, are expected to fall below the initial forecast, although revenue is expected to decline only slightly. Operating profit and ordinary profit, however, are expected to exceed the initial forecast. Interim net profit is expected to fall below the initial forecast because of extraordinary losses, with details scheduled to be disclosed in the interim financial results announced on 29 October.