Ride On Express Holdings announced its earnings on 14 August. Consolidated ordinary income (loss) swung to a ¥3 million loss in the first quarter, and the company indicated that its full-year ordinary profit outlook is expected to fall sharply to ¥742 million.
Ride On Express Holdings released its financial results for the first quarter of the fiscal year ending April 2024, reporting a ¥3 million consolidated ordinary loss. It posted a ¥51 million profit in the year-earlier period.
The company had not disclosed a full-year earnings forecast, but indicated that consolidated ordinary profit is expected to fall 41.9% from the previous fiscal year to ¥742 million.
In the latest three-month results, April-June sales were reported against the year-earlier period, while the operating margin on sales deteriorated from 1.0% to -0.7%. This may affect the outlook going forward.