TOKYO (dpa-AFX) - Obayashi Corporation (OBA.F), a Japanese construction company, Friday reported net profit of 18.070 billion yen or 25.59 yen per basic share for the first quarter, lower than 25.8 billion yen or 35.98 yen per share in the same quarter a year ago, primarily impacted by decline in sales.
Operating income increased 3.1% to 15.798 billion yen from 15.327 billion a year ago.
Net sales decreased 8.4% to 523.763 billion yen from 571.791 billion yen in the previous year.
For the full year, the company expects sales to decline 1.2% year-on-year to 2,560 billion yen. Net profit is expected to decrease 31.2% to 100 billion yen with EPS of 143.86 yen.
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