神姫バス released its results after the market close on 9 November. It revised its ordinary profit forecast for the current fiscal year upward and also raised its dividend. Meanwhile, profit declined sharply in the first half.
神姫バス's consolidated ordinary profit for the cumulative second quarter of the current fiscal year (April-September) was ¥510 million, down 60.6% year on year.
At the same time, the full-year ordinary profit forecast was revised upward from the previous forecast of ¥3.4 billion to ¥3.7 billion, an 8.8% upward revision. The expected rate of decline in profit was narrowed from 23.3% to 16.6%.
Based on first-half results and the full-year plan, estimated consolidated ordinary profit for the second half is expected to be ¥3.18 billion, up 2.1% year on year.
The company announced that it would raise its annual dividend for the year-end from the previous plan of ¥45 to ¥50.
Results for July-September were ¥200 million, down 66.2% year on year, while the operating margin on revenue deteriorated from 4.5% to 1.9%.