Brother Reports Flat Sales Revenue in Q2

Brother Reports Flat Sales Revenue in Q2

Brother reported a flat year-on-year sales revenue in the second quarter (Q2) of the fiscal year 2023 ending March 31, 2024. Business segment was up substantially, mainly due to higher consumables sales and the effects of price adjustments in the P&S business.

Some highlights include:

• Sales revenue was JPY￥2 billion (US$ 1.3billion), up 1.2% year-on-year
• Business segment profit was JPY￥6 billion (US$ 116.8 million), up 57.7% year-on-year
• Operating profit was JPY￥7 billion (US$ 117.5 million), up 42.2% year-on-year
• Income before tax was JPY￥183 billion (US$ 1.2 billion), up 42.1% year-on-year

By segment, P&S sales revenue was JPY￥121.6 billion (US$ 807.0 million), up JPY￥3 billion (US$ 19.9 million) compared to the same quarter in last year. The business segment profit of P&S was JPY￥14.3 billion (US$ 94.9 million), an increase of JPY￥9.2 billion (US$ 61.1 million) from the same quarter in last year. Operating profit was JPY￥14 billion (US$ 92.9 million), up JPY￥8.6 billion (US$ 57.1 million) compared to the same quarter last year.

For the first half, Brother’s sales revenue turned out to be JPY￥399.6 billion (US$ 2.7 billion), up 0.7% year-over-year. Business segment profit was JPY￥40.7 billion (US$ 270.1 million), up 13.3% year-over-year. Operating profit was JPY￥39.7 billion (US$ 263.5 million), up 6.0% year-over-year. Net income turned out to be JPY￥28.9 billion (US$ 191.8 million), down 4.5% year-over-year.

Although positive FX effects were reflected, the forecast for sales revenue was revised downward due to effects from the prolongation of sluggish market conditions in China mainly on the Machinery business. The forecast for profit remains unchanged as a whole, while the breakdown among business segments was adjusted.

Related:

• Brother Releases Mixed Results for FY 2022
• Brother Reports Mixed Results for Q3
• Brother Reports Mixed Results for Q2 and H1
• Brother Reports Significant Profit Growth in Q1, 2022

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