DyDo Group Holdings shares rebounded sharply on a favorable reaction to its first-half results. Against a backdrop of strong domestic and overseas beverage operations and improved profitability, the company raised its full-year forecast.
DyDo Group Holdings reported first-half operating profit of ¥6.74 billion, approximately 4.9 times the year-earlier level. In response, the company raised its full-year operating profit forecast from the previous ¥10.5 billion to ¥12.3 billion, a level expected to be approximately 3.0 times the year-earlier figure.
Although the company raised profit forecasts for its domestic and overseas beverage businesses, domestic sales are expected to undershoot forecasts. Overall profitability is nevertheless expected to improve, as depreciation expenses declined following the impact of impairment losses recognized in the previous fiscal year and initiatives to improve profitability progressed.
Overseas, sales at the Turkish subsidiary are reportedly continuing to perform strongly, and the business is expected to contribute to profit across the group.