TOKYO (dpa-AFX) - Mitsubishi Estate Co., Ltd. (MITEY.PK, 8802.T), a Japanese real estate developer, reported Monday higher profit in the first half of fiscal 2027 with strong growth in operating revenues. Further, the firm lifted fiscal 2026 earnings view and maintained revenue forecast.
In Tokyo, the shares were trading 2.66 percent higher, at 4,014.00 yen.
For the first half, profit attributable to owners of parent was 129.133 billion yen, up 122.4 percent from 58.071 billion yen in the same period a year ago. Earnings per share were 107.39 yen, compared to 47.03 yen last year.
Operating profit was 187.126 billion yen, up 73.9 percent from 107.590 billion yen a year ago.
Operating revenue for the period climbed 18.5 percent to 880.614 billion yen from 743.204 billion yen in the previous year.
Looking ahead for the full year ending March 31, 2027, the company now expects attributable profit 245 billion yen or 204.62 yen per share, up 10.1 percent from last year, and operating profit of 380 billion yen, a growth of 15.2 percent year-over-year.
The firm previously expected attributable profit 235 billion yen or 196.27 yen per basic share and operating profit of 370 billion yen.
Operating revenues are still expected to be 2 trillion yen, up 14.5 percent from last year.
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