Despite declining performances in its European office business sales, Konica Minolta still managed a one percent growth in revenue during the first quarter of fiscal year 2017 (Q1 2017), ending March 2018.
According to its financial report, Konica Minolta claims the revenue growth was mainly driven by strong performance from the industrial segment which offset low profits in the office and healthcare sectors.
Other highlights from the financial report include:
- Revenue registered a one percent year-over-year growth to be JP¥ 232.4 billion (US$2.1 billion) in the first quarter;
- Operating profit dropped two percent to JP¥ 8.7 billion (US$78.69 million);
- Office business revenue in the first quarter suffered a two percent year-over-year decline to JP¥ 133.0 billion (US$1.2 billion), while profit in the segment slumped JP¥ 5.3 billion (US$47.7 million);
- Professional print revenue turned out to be JP¥ 49 billion (US$ 0.44 billion), up three percent compared with the same period in last year, while the profit generated by the segment decreased three percent.