Furukawa Electric Co., Ltd. (5801.T,FUWAY), a telecommunications products manufacturer, Monday reported increased earnings for the first half from last year, reflecting growth in sales. Further, the firm maintained its fiscal year 2025 outlook.
On the Tokyo Stock Exchange, the shares were trading down 8.43 percent at 9,432 yen.
In the first half, Furukawa's profit attributable to owners of parent was 12.9 billion yen, higher than 11.2 billion yen last year.
The company's operating profit grew to 19.4 billion yen from 17.5 billion yen in the prior year.
For the six-month period, net sales spiked to 610.7 billion yen from 570.4 billion yen the earlier year.
For fiscal year, the forecasts remain unchanged, with profit attributable to owners of parent of 36 billion yen and operating profit of 52 billion yen, both higher than the previous year.
Meanwhile, the company continues to expect revenue to be 1.20 trillion yen, slightly lower than the prior year.
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