Sumitomo Forestry reports lower first-quarter net profit
Updated
Updated · MarketWatch · May 7
Sumitomo Forestry reports lower first-quarter net profit
9 articles · Updated · MarketWatch · May 7
Net profit fell to Y16.76 billion from Y20.58 billion in the quarter ended 31 March, while revenue rose to Y532.06 billion from Y511.63 billion.
Operating profit dropped to Y23.91 billion from Y38.87 billion, pretax profit declined to Y21.78 billion from Y37.66 billion, and earnings per share slipped to Y27.33.
The results, prepared under Japanese accounting standards, show sales growth did not prevent a broader profit decline across the group's first-quarter performance.
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