KOBE (dpa-AFX) - Kobe Steel, Ltd. (KBSTY.PK, 5406.T) Tuesday reported lower profit in the first half of fiscal year ending March 31, 2027, despite higher net sales. Further, the Japanese steel manufacturer raised its full-year profit and sales outlook.
In the period, profit attributable to owners of parent was 42.540 billion yen or 107.55 yen per basic share, 32.3 percent lower than 62.830 billion yen or 159.49 yen per basic share a year ago.
Operating income dropped 2.5 percent to 60.992 billion yen from 62.565 billion yen in the prior year.
Net sales, however, grew 6.6 percent to 1.260 trillion yen from 1.181 trillion yen last year.
Looking ahead for the 12-month period to March 31, the company now expects attributable profit of 105 billion yen or 264.67 yen per share, 12 percent higher than the prior year; and operating income of 165 billion yen, up 27 percent year-over-year.
Net sales are now projected to be 2.750 trillion yen, up 12.9 percent year-over-year.
The company previously expected net income of 100 billion yen, and net sales of 2.690 trillion yen.
For the full year, the company still expects to pay a total dividend of 80 yen per share, including fourth quarter dividend of 40 yen per share, both same as last year.
In Tokyo, the shares were gaining around 0.79 percent, trading at 1,975.50 yen.
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