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
Norwex has announced voluntary recall of about 58,000 rubber brooms due to laceration hazard. According to the company, handles of the recalled brooms can break in half, exposing a metal inner rim, posing a laceration hazard to the user. The recall involves extendable indoor/outdoor white rubber... Amazon.com Inc. has expanded its AmazonFresh grocery delivery service to three new cities. Beginning today, Amazon Prime members in Houston, Minneapolis and Phoenix can shop thousands of products, ranging from meat and seafood to fresh produce and everyday essentials. The groceries will be delivered to their homes in two hours or less, with options for one-hour and two-hour delivery. Piping Rock Health Products issued a recall for about 18,600 units of wintergreen essential oil due to poisoning risk for children if they ingest it. However, the company has not received reports of any incidents or injuries so far. The recall involves Piping Rock wintergreen essential oil packaged in glass amber dropper bottles having a black cap and a yellow, red and green label.
Follow RTT