Brother releases second quarter results
November 9, 2020
The company has released its latest financial results for the quarter ended 30 September 2020.
Brother recorded sales revenues of ¥156.9 billion ($1.5 billion/ €1.26 billion), a decrease of ¥24 billion ($230 million/ €193 million) compared to the same period of the previous year. The company said that revenues were up “due to temporary factors, such as the buying up of consumables in some channels, along with a strong performance of products in the SOHO segment and gradual recovery of demand of consumables”.
Brother went on to say that products in the SOHO segment performed well, as well as increase in demand for consumables, “however, these were not enough to compensate for decline in print volume in offices and effects from delays in supplies of ink products and consumables”. Brother added that sales revenue for the quarter were affected by slowdown in demand for hardware in the first quarter resulting from lockdowns due to the pandemic.
Looking forward, Brother has increased the expected forecasted amounts upwards. The company now expects full year sales of ¥600 billion ($5.7 billion/ €4.8 billion).
Categories : City News
Tags : Brother Business Financials OEM
