セブン工業 weak, with profits for the interim period ending September coming in below plan

Seven Industries announced its results for the six months ended September. Operating earnings turned from a forecast profit to a loss, while final earnings also ended in the red.

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The story

After the close of trading on the 21st, Seven Industries announced its standalone results for the six months ended September. Revenue exceeded the forecast, but higher costs and a temporary increase in expenses caused profits to fall below plan.

Operating earnings fell sharply, from the previous forecast of a ¥22 million profit to a ¥58 million loss, compared with a ¥2 million profit in the same period of the previous year. Final earnings also deteriorated from a ¥18 million loss to a ¥72 million loss.

At a glance

Effective dateThe figures were announced as standalone results for the six months ended September

NatureOperating earnings fell short of the forecast, moving from an expected profit to a loss

NatureThe final earnings forecast was revised downward to a loss

ScaleRevenue was ¥8,187 million above the forecast, while increasing year on year

ImpactThe impact of the interior building materials business, accompanied by higher costs, contributed to the deterioration in earnings

NatureUpfront investment in the new stairway business pushed up expenses

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