TOKYO (AFP) - Japan's Fujifilm Holdings Corp. said Friday its net profit for the nine months to December more than doubled on robust sales of camera phone lenses and flat panel display materials.
Fujifilm, which owns three quarters of photocopier manufacturer Fuji Xerox, also attributed the higher profit to a weaker yen and the cost-reduction effects of restructuring steps.
Its group net profit surged to 103.87 billion yen (975 million dollars) for the April-December period from 48.43 billion yen a year before.
Operating profit jumped 46.5 percent to 177.99 billion yen on revenue of 2.14 trillion yen, up 3.3 percent.
The higher profit was mainly due to "a rise in sales volume in principal business fields, the positive effect of yen depreciation and a decrease in fixed costs resulting from the concentrated implementation of structural reform programmes," it said in a statement.
Its earnings were also boosted by the absence of heavy restructuring charges which took a toll on profits in the same period a year earlier, it said.
Fujifilm said it was sticking to its full-year target of posting record revenue and profits, although it expects an impact from a stronger yen in the fourth quarter.
There was also a risk of weaker US demand and higher raw material costs, it said.
The company is forecasting a net profit of 120 billion yen, operating profit of 210 billion yen and revenue of 2.85 trillion yen for the year to March, unchanged from its October projections.
"Although we are faced with several new risk factors, we will make sure to attain the record revenue and profit targets" through cuts in production, sales and general administration costs, Fujifilm chief financial officer Toshimitsu Kawamura told reporters.
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