Brother releases second quarter results
November 9, 2022
The company has released its second quarter financial results, saying that revenue increased due mainly to positive foreign exchange effects.
Sales revenue for the second quarter was up 11.6% year-on-year at ¥1,969 billion ($13.51 billion/ €13.45 billion). Operating profit was down 49.6% year-on-year at ¥124 billion ($851 million/ €847 million).
In its Printing & Solutions (P&S) business segment Brother recorded sales of ¥1,187 billion ($8.14 billion/ €8.11 billion) but operating profit was down year-on-year to ¥54 billion ($370 million/ €369 million). Brother said that “Profit decreased substantially due to factors such as the lower gross profit resulting from decreased sales of consumables in the P&S business, a significant increase in parts and materials costs, …”
The forecast for sales revenue has been revised upward in response to positive foreign exchange effects and easing of supply constraints in the P&S business. The forecast for business segment profit has been revised downward in response to a significant increase in parts and materials costs and lower-than-expected profit in the first half.
Categories : City News
Tags : Brother Business Financials OEM Sales