IHI Profit Jumps 39% Despite Lower Revenue in First Half

MT Newswires Live11-06

IHI (TYO:7013) posted attributable profit of 55.91 billion yen for the six months ended Sept. 30, up 42% from a year earlier, according to a Thursday filing on the Tokyo Stock Exchange.

Earnings per share rose to 52.75 yen from 37.10 yen, while revenue fell 5.8% to 713.65 billion yen.

The heavy machinery maker raised its full-year forecast, now projecting attributable profit of 125 billion yen, up 10.9% from the previous year. It expects diluted earnings per share of 117.49 yen and revenue of 1.64 trillion yen, up 0.8%.

The company declared an interim dividend of 70 yen per share and plans a total annual payout of 140 yen, with payment scheduled for Dec. 5.

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