TOKYO (dpa-AFX) - Oji Holdings Corporation (OJI.F,3861.T), a Japanese pulp and paper products manufacturer, reported a decline in first-half profit on Friday, impacted by 7.9 billion yen lower sales in the first half of the year.
Profit attributable to Owners of Parent curtailed to 10.9 billion yen from 24.3 billion yen, a decrease of 13.4 billion yen from the year ago.
Operating Profit decreased to 16.7 billion yen from 37.2 billion yen in the prior year.
Net Sales slipped to 915.0 billion yen from 922.9 billion yen a year ago.
Looking forward, the firm expects operating profit to be 45.0 billion yen in FY2025, 30 billion yen less than the previous plan, due to a slowdown in the pulp market recovery and a slip in domestic sales volume.
Profit attributable to Owners of Parent is expected to be around 50 billion yen from the earlier plan.
The shares were trading 1.47% lower at 771 yen on the Tokyo Stock Exchange.
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