ガーデン announced that it had revised its forecast for current fiscal-year ordinary profit down from ¥1.28 billion to ¥280 million, projecting a 76.9% decline for the full year. It also reported that second-quarter results had swung to a loss, while its second-half outlook had been sharply reduced.
ガーデン released its earnings after the market close on 15 October, revising its forecast for current fiscal-year ordinary profit down from ¥1.28 billion to ¥280 million. As a result, full-year net profit is also expected to decline substantially.
Ordinary income/loss for the latest three-month period, June-August, swung to a ¥3 million loss, while the operating margin on sales deteriorated sharply from 6.4% in the same period of the previous year to 0.7%.
Compared with first-half results and the previous forecast, the current fiscal-year revision was substantially downward, with second-half ordinary profit expected to fall 68.9% year on year to ¥140 million.
Under the revised full-year outlook, ordinary profit is projected at ¥280 million and net profit at approximately ¥10 million.