Successful cost-cutting has prompted Japanese technology giant Toshiba to forecast an operating profit for the first half of the year today.
Based on preliminary estimates, the group said it is expecting a first-half operating profit of 2 billion yen, compared with a previous forecast of a 30 billion yen.
Net loss for the first half of 2009 will have fallen to 58 billion yen against a previous forecast of 80 billion yen, Toshiba said.
Yet despite the positive revisions, Toshiba still said its consolidated results for the 2009 financial year remained unchanged from its earlier forecast as the outlook for the global economy in the second half of FY2009 and beyond “remains highly opaque”.
The Japanese technology giant also expects sales to decline a further 6.2pc in the first half of the 2009 compared to its earlier forecast. Toshiba said its sales had felt the influence of the yen’s appreciation and the recession, and had fallen short of its previous forecast.
Article courtesy of businessandleadership.com
Photo: Toshiba’s Mini NB200 netbook.