TOKYO (dpa-AFX) - Komatsu Ltd (KMTUY.PK), a Japanese maker of equipment for construction, mining, forestry, military, and others, on Tuesday reported a decline in net profit for the first half, reflecting higher other expenses. However, the company reported an increase in sales.
In addition, the company revised up its annual guidance.
For the six-month period to September 30, Komatsu recorded a net profit of 201.729 billion yen or 215.92 yen per share, lower than 205.548 billion yen or 217.34 yen per share, reported for the same period last year.
Income before income taxes and equity in earnings of affiliated companies slipped to 278.654 billion yen from prior year's 288.020 billion yen.
Total other expenses soared to 24.773 billion yen from last year's 8.956 billion yen.
Operating income stood at 303.427 billion yen as against previous year's 296.976 billion yen.
Sales was 1.968 trillion yen, higher than 1.822 trillion yen.
This was helped by a rise in mining equipment, industrial machinery and others business, deprecation of Japanese yen, and the effect of improved selling prices in most regions of the world.
The company will pay a dividend of 83 yen per share to the shareholders of record as of September 30.
Citing the Japanese yen's more-than-anticipated depreciation during the first six-month period, the company has revised up its annual outlook.
For the 12-month period to March 31, 2025, Komatsu now expects net profit of 376 billion yen or 404.93 yen per basic share, higher than the previous outlook of 347 billion yen or 366.81 yen per basic share.
Operating income is now anticipated to be at 573 billion yen, compared with previous expectation for 557 billion yen.
Komatsu now projects sales of 3.988 trillion yen as against earlier guidance of 3.861 trillion yen.
The company has reaffirmed its annual total dividend expectation of 167 yen per share, unchanged from prior year.
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