Central Glass announced its financial results. Ordinary profit for April-June was ¥4.87 billion, a significant increase from the same period last year, prompting the company to revise upward its forecasts for the first half and full year. The first-half forecast was raised to ¥6.3 billion and the full-year forecast to ¥11.3 billion.
Central Glass published its earnings summary, disclosing that first-quarter ordinary profit rose 2.7 times year on year to ¥4.87 billion. The company also released revenue and other metrics, but the focus of this report is the growth in ordinary profit.
The forecast for the first half of the current fiscal year was revised upward 53.7%, from the previous forecast of ¥4.1 billion to ¥6.3 billion. Ordinary profit was ¥3.41 billion in the same period last year. The revised forecast points to a substantial increase in profit, with the growth rate expected to expand from 20.2% to 84.6%. This also indicates an improvement in the first-half profit margin.
The full-year forecast was also revised upward, by 9.7%, from the previous forecast of ¥10.3 billion to ¥11.3 billion. Ordinary profit was ¥12.2 billion in the previous fiscal year, so the decline is expected to narrow. Over the latest three months, the operating profit margin relative to revenue improved.