TOKYO (dpa-AFX) - Drug manufacturer Takeda Pharmaceutical Company Limited (TAK) on Thursday announced higher revenues for the first quarter ended June 2023. Net profit however declined owing to lower finance income.
Net profit declined 14.9 percent to 89.4 billion yen from 105.0 billion yen in the prior-year period. Earnings per share declined to 57.12 yen per share, from 67.56 yen per share in the previous year's first quarter.
The decrease in Finance Income reflected gains from acquisitions of prior equity method companies and other income recorded in the same period of the previous fiscal year.
Profit before tax declined to 135.0 billion yen, from 155.5 billion yen owing to lower finance income.
Adjusted net profit, however, increased 4.1 percent to 233.4 billion yen. On a constant exchange rate basis, the growth was 0.9 percent.
Revenue for the period improved to 8.9 percent to 1058.6 billion yen, from 972.5 billion yen during the corresponding period year. On a constant-exchange rate basis, the growth was 3.7 percent.
The company has made no change to full-year forecasts or management guidance. Revenue is seen at 3,840 billion yen. Net profit is forecast to be 142 billion yen and at 91 yen per share.
Shares of Takeda Pharmaceutical Company closed Wednesday's trading at $15.45, down $0.10 or 0.65 percent from the previous close.
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