Johnson Electric Holdings (00179) has issued an announcement. Based on the group's preliminary assessment of its unaudited consolidated management accounts for the six months ended September 30, 2026, Johnson Electric expects total revenue to be broadly in line with the figure reported for the same period last year. However, profit attributable to shareholders for the period is currently expected to be between US$50 million and US$58 million, a decrease of approximately US$75 million to US$83 million, or 56% to 62%, compared with the net profit of US$133 million reported for the same period last year.
This performance is mainly affected by multiple factors. The group's sales and costs are denominated in various currencies, exposing it to foreign exchange risk. Compared with the same period last year, a considerable portion of the decline in net profit is due to foreign exchange-related effects. Significant foreign exchange gains were recorded in the same period last year, while no equivalent gains were recorded in the six months ended September 30, 2026. The overall foreign exchange-related impact across the two periods is estimated to have reduced net profit by approximately US$49 million to US$55 million compared with the same period last year.
Comments