Daiwabo Holdings revised its full-year ordinary profit forecast from ¥36.7 billion to ¥43.0 billion, indicating an expected 17.3% increase from the same period of the previous year. Cumulative 2Q ordinary profit was ¥20.7 billion, down 8.1% from the previous period, while second-half ordinary profit is expected to be approximately ¥22.2 billion, broadly flat.
Daiwabo Holdings released its financial results summary on 11 November. It revised its full-year ordinary profit forecast for the current fiscal year up from the previous forecast of ¥36.7 billion to ¥43.0 billion. As a result, revised ordinary profit is expected to increase from the previous fiscal year.
According to the first-half results and second-half plan released together, first-half ordinary profit was ¥20.7 billion, down 8.1% from the same period of the previous year. For the second half, the company estimated ordinary profit for the October-March period at ¥22.2 billion, down 0.3% from the same period of the previous year, indicating that the decline in profit for the full year is expected to narrow.
The financial results summary sets out the 2Q results and trends in revenue and profit margins as the basis for the first-half results and full-year plan, providing the assumptions underlying the outlook for future performance. In the most recent 3-month period, ordinary profit for the July-September quarter rose 3.3% year on year to ¥12.9 billion, while the operating profit margin on sales was broadly flat.