Sharp net loss shrinks more than 60pc


Feb 4, 2017-

Sharp said on Friday its nine-month net loss shrank by more than 60 percent as it upgraded its full-year forecasts on structural reforms and its takeover by Hon Hai. Sharp said that in the nine months to December its net loss shrank by 62.0 percent to 41.16 billion yen from a year earlier. It booked operating profit of 18.94 billion yen ($363.86 million), reversing the previous year’s loss of 29.04 billion yen. Sales fell 23.2 percent to 1.49 trillion yen. In the three months period to December, it booked a net profit of 4.2 billion yen “thanks to effects of structural reforms” implemented, it said in a statement. Sharp said it expects to report a 37.2 billion yen annual net loss in the business year ending in March, better than the previous forecast of 41.8 billion yen loss.

Published: 04-02-2017 08:58

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