logo
Plus   Neg
Share
Email

NEC Corp. FY Profits Down, But Revenues Up

NEC Corp. (NIPNF.PK), a Japan-based provider of IT and network technologies, Friday reported lower profits for the full year, but revenues were higher, mainly due to increased sales in Enterprise business and the Network Services business.

The group recorded a net profit attributable to owners of the parent of 40.2 billion yen, lower than last year's 45.9 billion yen. Earnings per share slid to 154.75 yen from 176.54 yen.

Operating profit for the period totaled 58.46 billion yen, compared to 63.85 billion yen a year ago. The results reflect business structure improvement expenses recorded during the year for the implementation of voluntary early retirement.

For the year, NEC Group's consolidated revenue rose 2.4 percent year-over-year to 2.913 trillion yen.

Looking ahead, for the fiscal year ending March 31, 2020, the Group expects consolidated revenue of 2.950 trillion yen and operating profit of 110.0 billion yen. It also expects 65.0 billion yen of net profit attributable to owners of the parent for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide. Children's Place Inc. (PLCE) said that it will relaunch the Gymboree brand in the U.S. and Canada in early 2020. The brand will be relaunched in Gymboree website, and in shop-in-shop locations in more than 200 Children's Place stores in the U.S. and Canada.
RELATED NEWS
Follow RTT
>