TOKYO (dpa-AFX) - Kubota Corp. (KUBTY.PK), a provider of agriculture solutions, reported Tuesday lower profit in its first half, with weak revenues. Looking ahead, the company projects lower earnings and revenues for fiscal 2025.
In Japan, Kubota shares were losing around 2 percent to trade at 1,648.50 yen.
In the first half, profit attributable to owners of the parent was 92.48 billion yen, down 38.7 percent from 150.80 billion yen last year. Basic earnings per share fell to 80.60 yen from 128.33 yen last year.
Operating profit declined 31 percent to 143.03 billion yen from last year's 207.34 billion yen.
Revenue also declined 7.9 percent to 1.45 trillion yen from 1.58 trillion yen in the prior year.
Looking ahead, for fiscal 2025, the company projects profit attributable to owners of the parent of 142 billion yen or 124.32 yen per share, down 38.4 percent year-over-year.
Operating profit would be 220 billion yen, down 30.3 percent from last year, and revenues would decline 4.5 percent year-over-year to 2.88 trillion yen.
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