Kintetsu Group Holdings announced its earnings on 13 November. The company raised its current-period ordinary profit forecast from its previous projection and is now expected to post a record high profit for the first time in 3 periods.
Kintetsu Group Holdings reported consolidated ordinary profit of ¥49.2 billion for the cumulative second quarter of fiscal 2024 (April-September), up 23.7% from the same period a year earlier. Contrary to its previous forecast for a decline, the company finished the period with higher profit. Revenue grew to a certain extent, while the profit margin remained firm.
The full-year ordinary profit forecast for the current period was revised upward to ¥87.0 billion, representing expected growth of 6.1% from the ¥84.5 billion recorded in the previous period and raising the possibility of a record high profit for the first time in 3 periods.
However, compared with first-half results, the second-half outlook works out to around ¥37.7 billion, and the year-on-year rate of growth is expected to trend lower.
The revised forecast for the current period is expected to affect operating profit and net profit as well, while attention will focus on shareholder returns and the pursuit of the company's growth strategy.