TOKYO (dpa-AFX) - JT Group (JAPAF.PK, JAPAY.PK) reported third-quarter profit attributable to owners of the parent of 85.5 billion yen, a decline of 4.7%, compared to 89.7 billion yen reported last year. The profit decline was largely due to an increase in financing costs.
Revenue for the quarter decreased to 561.9 billion yen from 575.2 billion yen generated in the previous year, reflecting revenue declines in the Japanese-domestic tobacco, processed food, and pharmaceutical businesses, while the international tobacco business was stable year-on-year.
For fiscal 2020, the company now projects profit attributable to owners of the parent to be 310 billion yen compared to the previously communicated outlook of 286 billion yen. Revenue for year 2020 is now expected to be 2.07 trillion yen versus its prior estimation of 2.01 trillion yen.
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