Hokkaido Electric Power raised its ordinary profit forecast for the current fiscal year by 53.3%, from the previous forecast of ¥30 billion to ¥46 billion. The revenue forecast was raised to approximately ¥1.025 trillion, while net profit attributable to owners of the parent is expected to be approximately ¥33 billion.
Hokkaido Electric Power announced a revision to its consolidated earnings forecast after the market close on 25 September. Ordinary profit was raised from the previous forecast of ¥30 billion to approximately ¥46 billion, with a significant improvement expected from the previous fiscal year. Net profit is consequently expected to be approximately ¥33 billion.
The revenue forecast was increased from the previous forecast to reflect higher costs associated with rising fuel prices and revisions to wheeling charges, among other factors. The new revenue forecast is approximately ¥1.025 trillion, supporting the increase in ordinary profit following the revision.
The revised earnings figures are revenue of approximately ¥1.025 trillion, ordinary profit of approximately ¥46 billion, and net profit attributable to owners of the parent of approximately ¥33 billion. These figures reflect external factors including higher fuel costs and revisions to wheeling charges.
The materials released on the reporting date also state that the company will continue not to disclose an earnings outlook for the first half (April-September).