EDP has revised its current-period net income forecast downward, expecting the loss to widen. Although the cumulative second-quarter loss narrowed, the full-year loss is expected to widen to ¥340 million, with a return to profitability in the second half indicated as a benchmark.
EDP, which announced its earnings after the close on 12 November, posted a net loss of ¥430 million for the cumulative second quarter (April-September), narrowing from a ¥500 million loss in the same period a year earlier.
The full-year forecast announced the same day was revised downward from the previous forecast of a ¥190 million loss to a ¥340 million loss. For the second half, consolidated net income for the October-March period is expected to return to a profit of ¥80 million.
Meanwhile, the results for the most recent 3 months, July-September, showed a net loss of ¥190 million, narrowing from a ¥220 million loss in the same period a year earlier. Further information on financial results and the trend in net sales is expected in future earnings reports.
The company has also disclosed the revised figures in a comparison table covering first-half results and the previous forecast, drawing attention to its future earnings outlook.