Kobe Steel Ltd Raises Consolidated Mid-year and Full-year Outlook for FY 2014; Cancels Mid-year Dividend for FY 2014


Monday, 29 Jul 2013 12:30am EDT 

Kobe Steel Ltd announced that it has raised the consolidated mid-year outlook for revenue from JPY 870,000 million to JPY 890,000 million, operating profit from JPY 30,000 million to JPY 40,000 million, ordinary profit from JPY 15,000 million to JPY 25,000 million, net profit from JPY 10,000 million to JPY 25,000 million and earning per share from JPY 3.33 to JPY 8.32 for the fiscal year ending March 31, 2014. The Company has also raised the consolidated full-year outlook for revenue from JPY 1,790,000 million to JPY 1,860,000 million, operating profit from JPY 75,000 million to JPY 90,000 million, ordinary profit from JPY 45,000 million to JPY 60,000 million, net profit from JPY 35,000 million to JPY 55,000 million and earning per share from JPY 11.66 to JPY 18.32 for the fiscal year ending March 31, 2014. The positive outlook is mainly due to firm demand for automobile related materials. According to I/B/E/S Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 1,809.13 billion, operating profit of JPY 75.19 billion and net income of JPY 37.27 billion. The Company also announced that it has decided to cancel the mid-year dividend for the fiscal year ending March 2014. The year-end dividend forecast for the fiscal year ending March 2014 remains undetermined. 

Company Quote

7.5835
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24 Nov 2014