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Ricoh 9-Month Profit Soars; Lifts FY Earnings View; Backs Sales Forecast

RTTNews
Feb. 1, 2018, 03:09 AM

(RTTNews) - Ricoh Co Ltd (RICOY), a Japanese manufacturing services company, reported Thursday that its nine-month net profit attributable to owners of the parent surged 321.4% to 17.3 billion Japanese yen from last year's 4.1 billion yen a year ago.

Earnings per share soared to 23.91 yen from 5.68 yen a year ago. Profit before income tax expenses grew 65 percent to 43.1 billion yen.

Operating profit climbed 68 percent to 48 billion yen from 28.5 billion yen last year.

Sales increased 3.2 percent to 1.52 trillion yen from 1.47 trillion yen a year ago. Sales in all segments excluding the Office Printing segment increased.

Domestic sales grew 5.9 percent from last year to 579.2 billion yen, and overseas sales improved 1.6 percent to 936.9 billion yen.

Looking ahead, for fiscal year ending March 31, 2018, the company now expects a breakeven attributable profit, profit before income tax expenses of 14 billion yen, down 53.3% from last year, and operating profit of 20 billion yen, down 41 percent.

The company previously expected attributable loss of 7 billion yen or 9.66 yen per share, profit before income tax expenses of 4 billion yen, down 86.6% from last year, and operating profit of 10 billion yen, down 70.5 percent.

Sales for the year are still expected to be 2.04 trillion yen, up 0.5%.

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