Brother Reports Growth in Q3

Brother Reports Growth in Q3

Though revenue declined 3.6% year-over-year, Brother reported growth in business segment profit, operating profit, profit before income taxes, and profit for the nine months and the third quarter (Q3) of the fiscal year ending March 31, 2021.

According to Brother’s consolidated results for the period, some highlights are as follows:

• Revenue declined 3.6% year-over-year to JPY 486 billion (US$4.44 billion)
• Business segment profit increased 16.2% year-over-year to JPY 63.337 billion (US$601.92 million)
• Operating profit increased 13.4% to JPY 62.84 billion (US$597.20 million)
• Profit before income taxes increased 13.2% to JPY 63.011 billion (US$598.83 million)
• Profit for the period increased 14.3% to JPY 47.609 billion (US$452.46 million)
• Profit for the period attributable to owners of the parent company increased 14.3% to JPY 47.526 billion (US$451.67 million)

Due to decrease in SG&A expenses throughout the year as well as higher-than-expected performance mainly in the P&S and P&H businesses in the third quarter, Brother claims that results for the current fiscal year are now expected to exceed the previous forecast. The OEM board of directors held meeting the day after the results was announced, and resolved to revise the consolidated results forecast and year-end dividend forecast for the fiscal year ending March 31, 2021.

Considering the impact of the resurgence of the COVID-19 in US, Europe and Japan, Brother claims it will leave the year-end dividend forecast for current fiscal year undecided at this point.

In its Q2 and first half year results report, Brother revealed that its revenue turned out to be JPY 600 billion (US$5.70 billion), down 5.8% comparing to the same period in last year. Business segment profit registered to be JPY 55 billion (US$522.43 million), decreased 17.8% year-over-year.

Related:

• Brother Continues to Decline in Q2 and First Half

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