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Sharp Increases Profit Forecast
Oct 2, 2003
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Sharp Corp. said that it expects an 18-percent on-year gain in its interim group net profit due to brisk sales of its high-margin core electronics products such as camera-equipped mobile phones and liquid crystal display (LCD) televisions.

The Japanese consumer electronics maker now forecasts a group net profit of Y27 billion (approx. U.S. $243.4 million) for the fiscal half ended Sept. 30, 2003, compared with a year-earlier profit of Y22.90 billion.

Group operating profit is now estimated to have climbed 19 percent to Y58 billion, while group revenue is expected to have risen 12 percent to Y1.09 trillion from Y971.77 billion.

The amounts forecast all represent record highs for the fiscal half, a Sharp spokesman said.

The company said it will update its full-year earnings estimates when it reports its interim results on Oct. 29, 2003.

Sharp said in April it expects a group operating profit of Y110 billion, a net profit of Y50 billion and revenue of Y2.15 trillion this fiscal year.

This is the first time Sharp has released a fiscal half outlook. (Dow Jones)

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