JAPAN: Meiji Dairies raises H1 net profit forecast
Japan’s Meiji Dairies has raised its forecast for fiscal first-half net profit to ¥5.4bn (US$45.3m) from ¥4.3bn.
The dairy product producer said the revision was due to the company’s decision to book ¥3.3bn in profits from the sale of real estate assets in September instead of late November, reported Dow Jones International News.
Meiji added, however, that cooler weather and tough economic conditions have hit sale of its drinks and ice cream.
The company expects first-half group sales of ¥373bn, compared to its previous guidance of ¥382bn.
Meiji did not revise its full-year net profit forecast of ¥7.2bn, but changed its full-year sales outlook to ¥727bn, from an earlier forecast of ¥736bn.
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