Canon releases positive financial results
July 27, 2018
The OEM’s consolidated results for Q2 2018, and the first half of the year overall, make happy reading for the Japanese company.
Net sales for the second quarter of the 2018 (ending June the 30th) were up 1.4 percent, to ¥1 trillion ($8.99 billion/€7.73 billion) from ¥992.4 billion ($8.92 billion/€7.67 billion) in the equivalent period last year. Similarly, operating profit rose, from ¥93.8 billion ($843.8 million/€725.5 million) to ¥97.9 billion ($880.7 million/€757.3 million), a growth rate of 4.4 percent, and income before taxes increased from ¥99.5 billion ($895.1 million/€769.7 million) to ¥110.1 billion ($990.4 million/€851.7 million), climbing 10.6 percent.
Sales for the office business unit also rose in Q2, rising 1.5 percent from ¥470.6 billion ($4.23 billion/€3.64 billion) to ¥477.6 billion ($4.29 billion/€3.69 billion).
For the first half of the year (six months ending June the 30th), there were broadly similar rates of growth for the OEM. Net sales saw a marginal rise, climbing 0.1 percent to ¥1.96 trillion ($17.6 billion/€15.1 billion), whilst operating profits increased by 4.8 percent, from ¥167 billion ($1.5 billion/€1.29 billion) to ¥175 billion ($1.57 billion/€1.35 billion).
Income before taxes rose too, by 10.3 percent, reaching ¥195.8 billion ($1.76 billion/€1.51 billion) compared to ¥177.5 billion ($1.59 billion/€1.37 billion) in the same period of 2017.
Sales in the office business unit went from ¥928.4 billion ($8.35 billion/€7.18 billion) to ¥935.4 billion ($8.41 billion/€7.23 billion) in the first half of the year, an increase of 0.8 percent.
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