New Cosmos Electric posted a roughly 32% year-on-year decline in ordinary profit for the first half and indicated that ordinary profit was expected to decline by roughly 29% in the July–September quarter as well. It released its cumulative second-quarter results and earnings forecast for the current fiscal year.
In New Cosmos Electric’s cumulative second-quarter results for 26.04-09, revenue was ¥22,364 million, operating profit was ¥2,563 million, ordinary profit was ¥2,719 million and net profit was ¥1,583 million, while adjusted earnings per share were ¥130.14. Each metric declined from the same period of the previous year.
The company has not revised down its earnings forecast for the current fiscal year. Its outlook for the second half assumes revenue of ¥28,636 million, ordinary profit of ¥3,601 million and net profit of ¥2,402 million, among other figures. Overall, profit is expected to decline year on year. The outlook for the full fiscal year is based on the document dated the announcement date.
In the performance trend over the latest 3 months, cumulative figures from 25.07-09 through 26.07-09 show revenue of ¥11,554-13,649 million and ordinary profit of ¥1,734-2,459 million, among other metrics, indicating that the overall pace of growth has remained sluggish.