Mitsui & Co. Reports Revenue Growth Despite Profit Decline

Mitsui & Co., Ltd. has announced a decline in profit for the six-month period ending September 30, 2024, yet it reported substantial revenue growth. The company is optimistic about its outlook for the year ending March 31, 2025, expecting increased profit.

Date: 01-11-2024

AI Rating: 5

Mitsui & Co., Ltd. has presented mixed financial results that could influence investor sentiment. The profit attributable to owners of the parent declined by 44.5 billion yen, with an earnings per share (EPS) decrease from 150.62 yen to 138.50 yen. This draw back may be viewed negatively by investors, as it suggests challenges in profitability.

However, revenue growth for the same period was notable, increasing by 954.4 billion yen to reach 7.33 trillion yen. This growth, primarily driven by the Energy and Chemicals segments, can be seen as a positive sign, indicating strong demand in key areas of the business.

Looking forward, Mitsui & Co. has adjusted its profit forecast for the year ending March 31, 2025, upward to 920.00 billion yen from an initial estimate of 900.00 billion yen. With an expected EPS of 313.44 yen, this revision reflects management's confidence in future performance, despite the current period’s Earnings Per Share decline.

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