TOKYO (dpa-AFX) - International tobacco company JT Group (JAPAF.PK, JAPAY.PK) reported Tuesday that its profit rose more than 63 percent for the fourth quarter, but revenues declined 7.6 percent, partly due to the impact of Covid-19. The group said it expects lower profit and revenue for the full year 2021.
For the quarter, the Group's profit attributable to owners of the parent company rose 63.2 percent to 52.3 billion yen, due to various actors, including higher operating profit and improved financing costs.
Operating profit in the quarter increased 27.7 percent to 78.9 billion yen, mainly due to higher proceeds from the sales of real estate. However, adjusted operating profit slid by 29.5 percent to 45.4 billion yen, owing to negative foreign currency impacts in the international tobacco business.
For the fourth quarter, JT Group's revenue slid by 7.6 percent to 500.5 billion yen. In addition, the Group said it plans to pay an annual dividend per share of 154 yen.
Looking ahead to the full year 2021, the Group expects profit attributable to owners of the parent company to be 240.0 billion yen and revenues to be 2.080 tillion yen, reflecting a year-over-year decline of 22.6 percent and 0.6 percent, respectively.
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