Brother Records Steady Growth in Q2 2024

Brother Records Steady Growth in Q2 2024

Brother released its financial results for the second quarter of fiscal year 2024, spanning from July to September.

For the past quarter, Brother recorded a sales revenue of JP￥212.5 billion (US$ 1.38 billion), up by 6.7%. This is primarily the result of the steady sales performance of devices and consumables in the printing solution business. Despite higher expenses in promotion, business segment profit rose to JP￥20.2 billion (US$ 0.13 billion) due to positive foreign exchange rates. However, operating profit was subject to a minor setback mainly because of losses in foreign exchange. The trends remain the same for H1, with increases observed in sales revenue and business segment profit, and decrease noted in operating profit.

Breaking down by segment, printing solution segment remained Brother’s prominent business, accounting for more than half of its total sales revenue. Sales revenue for the first quarter recorded JP￥132 billion (US$ 0.86 billion), with JP￥114.9 billion (US$ 0.75 billion) accountable to communication and printing equipment. Revenue in all regions witnessed rises to different extents, and Americas occupied the largest share of Brother’s printing solution market.

Regarding forecast for the following fiscal year, Brother slightly scaled down its overall targets out of the consideration of delayed market recovery in Machinery business. Total sales revenue is anticipated to reach JP￥865 billion (US$ 5.64 billion). In compensation for the predicted loss for Machinery business, the company raised the financial forecast for printing solution business to JP￥532.6 billion (US$ 3.47 billion).

Related:

• Brother Begins Remanufacturing Ink Cartridges in UK
• Brother Reported Lower Printing Equipment Sales in Q1 2024
• Brother Publishes Cartridge-Related Patent in the U.S.
• Brother Leaves Open Possibility of Tender Offer for Roland DG
• Brother Releases Financial Results for Fiscal Year 2023

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