Ricoh Reports Growth in Q2

Ricoh Reports Growth in Q2

According to Ricoh, sales increased 10.7% year-over-year to JPY ¥843.3 billion (US$7.42 billion) in the second quarter, while gross profit increased 16.2% year-over-year to JPY ¥304.9 billion (US$2.68 billion).

Operating profit increased JPY43.7 billion (US$384.59 million) to JPY ¥13.1 billion (US$115.29 million) in Q2, while profit attributable to owners of the parent turned out to be JPY ¥11.1 billion (US$97.68 million).

“Despite the delayed pandemic recovery, higher costs from parts shortages and transportation expense, performance was in line with the plan due to business growth, structural reforms, and recovery measures,” said the spokesman of Ricoh.

Ricoh claimed that operating profit improved in all business units, despite external factors impacting performance. In office printing, earnings increased in the first half-year despite profit pressures of parts shortages and rising ocean freight costs.

For the outlook, Ricoh claims it will maintain the forecasted net sales of JPY ¥1,910 billion (US$16.81 billion) and operating profit of JPY ¥50 billion (US$440.06 million).

Related:

• Ricoh Reports Growth in Q1 and Ray Calls for Relevance
• Ricoh Continues to Suffer Losses in Q3
• Ricoh Results Hit by COVID-19
• Ricoh Faces Downturn in Office Printing

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