TOKYO (dpa-AFX) - Ricoh Co Ltd (RICOY), a Japanese manufacturing services company, reported that its profit attributable to owners of the parent for the fiscal year ended March 31, 2019 was 49.5 billion yen, compared to a loss of 135.3 billion yen in the prior year.
Consolidated sales for fiscal 2018 decreased 2.4% to 2.01 trillion yen from last year. Sales would have decreased by 2.1% as compared to the previous corresponding period. The decline was despite gains in the Office Services, Industrial Printing and Thermal, which are growth fields, and reflected lower hardware and related consumables revenues, principally overseas from paring down deals as part of a strategic emphasis on profitable sales.
For fiscal year ending March 31, 2020, the company expects profit attributable to owners of the parent to be 62.0 billion yen, sales of 2.01 trillion yen.
Copyright RTT News/dpa-AFX