TOKYO (dpa-AFX) - Tokyo Gas Co.,Ltd. (9531.T), a Japanese natural gas utility, Thursday reported lower profit for the first half, primarily due to a decline in extraordinary income.
Profit attributable to owners of the parent decreased to 99.031 billion yen or 300.63 yen per basic share from 129.680 billion yen or 366.15 yen per basic share a year ago.
The decline in extraordinary income to 33.433 billion yen from 84.543 billion yen was mainly due to the absence of a 68.013 billion yen gain from the reversal of foreign currency translation adjustments, which was recorded in the year-earlier period.
Operating profit rose 8.4% to 103.283 billion yen from 95.294 billion yen a year earlier.
Net sales grew 2.1% to 1.376 trillion yen from 1.348 trillion yen in the previous year.
Tokyo Gas forecasts full-year net sales to rise 12.7% year-on-year to 3.194 trillion. Operating profit is expected to decline 12% to 174 billion yen.
Profit attributable to owners of the parent is projected to decrease 38.3% to 140 billion yen, with basic earnings per share expected at 430.55 yen.
In Tokyo, Tokyo Gas shares were up nearly 1% at 6,376 yen.
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