Brother record both profit and revenue increases
August 3, 2021
The OEM has released its first quarter financial results for fiscal year 2021, ending 31 March 2022, recording a year-on-year increase in sales revenue and profit.
Brother recorded sales revenue of ¥174 billion ($1.6 billion/ €1.3 billion), a year-on-year increase of 30.7%. Profit increased substantially to ¥26.2 billion ($240 million/ €202 million), a 203.5% increase year-on-year. Brother explained that both profit and revenue increased due mainly to strong performance of the Printing &Solutions (P&S) and Machinery businesses in addition to positive foreign exchange effects.
Brother added that in the P&S business, despite supply restrictions, revenue increased due to strong demand for hardware products for people working from home, firm performance of consumables. Sales revenue for the P&S segment was ¥99.1 billion ($908 million/ €764 million), an increase of ¥16.1 billion ($147 million/ €124 million) compared to the same period of the previous fiscal year.
Brother revised its forecast upward in response to positive FX effects and strong performance in the first quarter. The new sales revenue forecast is now set at ¥695 billion ($6.4 billion/ €5.4 billion), up 11% from the previous forecast.
Categories : City News
Tags : Brother Business Financials OEM
