TOKYO (dpa-AFX) - Japan Tobacco Inc. (JAPAF.PK, JAPAY.PK), on Tuesday posted a rise in net earnings for the full year, amidst an improvement in revenue, driven by an increase in revenue from tobacco and pharmaceutical businesses. However, the Group expects its full-year 2024 net earnings to decline.
For the 12 months, the company posted a net profit of 485.310 billion yen or 271.63 yen per share, higher than 444.174 billion yen or 249.36 yen per share, registered for the previous year.
Pre-tax income was at 621.601 billion yen as against last year's 593.450 billion yen.
Income taxes decreased to 136.292 billion yen from 149.277 billion yen a year ago.
Operating income moved up to 672.410 billion yen from the previous year's 653.575 billion yen.
Excluding items, operating income was 728.002 billion yen, up from last year's 727.779 billion yen.
The Group generated revenue of 2.841 trillion yen as against the previous year's 2.657 trillion yen.
Revenue from the tobacco segment stood at 2.590 billion yen, higher than 2.417 billion yen last year.
The pharmaceuticals segment reported revenue of 94.875 billion yen, compared with 82.908 billion yen last year.
The company plans to pay 100 yen per share as a year-end dividend, which brings total annual dividend to 194 yen per share which includes an interim dividend of 94 yen.
Looking ahead, for the full year 2024, the company expects a net profit of 455 billion yen or 256.29 yen per basic share, a decrease of 5.7 percent from the previous year.
JT Group projects annual operating income to drop by 3.6 percent to 648 billion yen, mainly due to a decrease in adjusted operating profit and real estate sales.
Excluding items, annual operating income is expected to be down by 5.5 percent to 688 billion yen, due to negative currency movements.
Annual revenue is projected to be at 3.016 trillion yen, up 6.2 percent from last year.
For full-year 2024, the company aims to pay a total cash dividend of 194 yen per share, unchanged from last year's 194 yen per share.
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