Placeholder image
  • Ninestar Masthead banner April 2021
  • Static Web ad March 2021
  • Biuromax web ad Jan 2021
  • Katun March Web Advert 2021
  • Nubeprint Online 425x90
  • PW Dubai December Sticky Ad
  • The Recycler Subscribe Web ad January 2021
  • The Recycler Subscribe Web ad January 2021
  • PW Dubai December Sticky Ad

Brother’s revenue and profits hit by COVID-19

August 4, 2020

The company has released its consolidated financial results for the first quarter which ended 30 June 2020.

Brother recorded sales revenue of ¥133.2 billion ($1.26 billion/ €1.07 billion), down 16.4% year-on-year. Overall business segment profit was down 51.1% at ¥8.6 billion ($81.18 million/ €68.83 million). The printing and solutions segment recorded sales revenue of ¥82.9 billion ($782.51 million/ €663.46 million), down ¥15.3 billion ($144.42 million/ €122.45 million) year-on-year.

Brother said that COVID-19 related decrease in print volumes in offices meant sales revenue in the printer segment was down which could not be made up by the increase in demand in the SOHO segment due to home office working.

In its forecast for the full year 2020, Brother expects overall sales to be down 12.1% overall at ¥560 billion ($5.28 billion/ €4.48 billion). For the printing and solutions segment Brother predicts the biggest loss in revenue for the year of overall of ¥55.8 billion ($526.75 million/ €446.51 million) reduction, down to ¥334.9 billion ($3.16 billion/ €2.68 billion) for the full year 2020.

Brother expects that the printing and solutions segment is hit hardest because of the decrease in office print volume to the SMB segment, but also expects revenues to be affected for this segment because if delays in supplies.

Categories : City News

Tags :

Leave a Reply

Advertisement

  • Aster web ad April 2021
  • Ninestar Big & Bold April 2021
  • Mito Web ad May 2021
  • Armor May banner Ink
  • GPI May 2021 web advert
  • IR Italiana Web ad January 2021
  • GM Tech Web ad March 2021
  • Static Web ad January 2021
  • Apex web ad May 2021 version 2
  • ITP Web ad January 2021
  • PCL Web ad January 2021
  • Adter Recruitment Web ad April 2021
  • CTS Toner Supplies Web ad April 2021
  • CET Web ad April 2021
  • HYB Web ad February 2021
  • PW Dubai December Ad
  • CTS Toner Supplies Web ad April 2021
  • CET Web ad April 2021
  • PW Dubai December Ad
  • ITP Web ad January 2021
  • Adter Recruitment Web ad April 2021
  • PCL Web ad January 2021
  • HYB Web ad February 2021
  • PCL Web ad January 2021
  • ITP Web ad January 2021
  • CTS Toner Supplies Web ad April 2021
  • PW Dubai December Ad
  • CET Web ad April 2021
  • HYB Web ad February 2021
  • Adter Recruitment Web ad April 2021