Subaru posts first-half profit decline despite higher sales [Yahoo! Finance]
SUBARU CORPORATION U/ADR (FUJHY)
NASDAQ:AMEX Investor Relations:
subaru.co.jp/en/ir
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Source: Yahoo! Finance
Japanese automaker Subaru reported on Monday a drop in first-half earnings despite a 5.3% increase in sales. Additionally, the company has reiterated its previously issued guidance for the fiscal year. For the half-year period, net profit attributable to the owners of the firm slipped 44.5% to 90.4 billion yen ($586.4 million) from 163 billion yen in the year-ago period. Operating profit also declined 53.8% to 102.6 billion yen from 221.1 billion yen a year ago. Revenue, however, jumped to 2.38 trillion yen from 2.26 trillion yen in the prior year. For the year ending in March, the firm continues to expect net profit of 160 billion yen, down 52.7% from the year ago, with per share earnings seen at 218.87 yen. The full-year revenue guidance remains at 4.58 trillion yen, 2.3% lower than the prior year.
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