KYOEI TANKER cut its consolidated current-year net income forecast from the previous ¥3.7 billion to ¥2.5 billion, a 32.4% downward revision. Net income rose sharply to ¥510 million in the April-September period, but the company expects to return to profitability in the second half.
The company is KYOEI TANKER (consolidated), and the disclosure was published on 6 November 2024 based on the Summary of Financial Results PDF. The full-year consolidated net income forecast for the current fiscal year was cut from the previous ¥3.7 billion to ¥2.5 billion, with the expected growth rate narrowing from 8.9 times to 6.0 times.
In the latest first-half results, consolidated net income for July-September was ¥510 million, 7.2 times the year-earlier level, while the operating margin on revenue deteriorated from 3.9% to 2.9%. This highlighted the gap between first-half results and the full-year plan.
Based on first-half results and the previous forecast, the company prepared its outlook for the second half and explained that consolidated net income for October-March is calculated to recover to a ¥200 million profit.
Following the revision, full-year net income for the current fiscal year is expected to be ¥2.5 billion, with growth from the previous year restrained.