TOKYO (dpa-AFX) - Oriental Land Co., Ltd. (OLL.F), that operates and manages theme parks and hotels in Japan, on Tuesday reported a decline in full-year earnings, as higher costs weighed on profitability despite modest revenue growth.
Profit before tax declined to 170.161 billion yen from 173.569 billion yen a year ago.
Operating profit fell to 168.413 billion yen from 172.111 billion yen.
Profit attributable to owners of the parent was 121.881 billion yen or 74.34 yen per share, down from 124.160 billion yen or 75.62 yen per share in the previous year.
Sales increased 3.7% to 704.539 billion yen from 679.374 billion yen.
Looking ahead, for the first half, the company expects sales to increase 2.5% to 324.046 billion yen. Net income attributable to owners of the parent is expected to decline 5.8% to 45.520 billion yen, with earnings per share of 27.76 yen.
For the full year, sales are forecast to rise 2.8% to 724.312 billion yen. Net income attributable to owners of the parent is expected to fall 6.6% to 113.797 billion yen, with earnings per share of 69.40 yen.
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