TOKYO (dpa-AFX) - Nippon Telegraph and Telephone Corporation or NTT (NTT) on Thursday reported a decline in earnings for the first-half, reflecting increased expenses and costs. However, the company posted an improvement in revenue.
In addition, NTT has reaffirmed its annual guidance and total dividend expectations.
For the six-month period to September 30, the telecom company posted a net profit of 554.792 billion yen or 6.60 yen per basic share, lesser than 670.844 billion yen or 7.87 yen per basic share, registered for the same period last year.
Pre-tax income was at 878.845 billion yen as against last year's 1.039 trillion yen.
Operating income fell to 920.255 billion yen from 950.946 billion yen a year ago.
Finance income slipped to 32.399 billion yen from previous year's 132.553 billion yen.
Finance costs stood at 91.447 billion yen, up from 58.655 billion yen a year ago.
Total operating expenses moved up to 5.670 trillion yen from 5.413 trillion yen in the previous year.
Revenue, however, improved to 6.590 trillion yen from previous year's 6.364 trillion yen.
Revenue from Global Solutions Business was 2.240 trillion yen, higher than prior year's 2.078 trillion yen.
Looking ahead, for the full year, NTT still expects a net profit of 1.100 trillion yen, a decline 14 percent from last year. Basic income per share still projected to be at 13 yen.
The telecom firm continues to expect an operating profit of 1.810 trillion yen, down 5.9 percent from previous year, on revenue of 13.460 trillion yen, up 0.6 percent from a year ago.
For full year, the company still aims to pay a total dividend of 5.20 yen per share, higher than last year's 5.10 yen per share.
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