The company’s revenue climbed to 762.46 billion yen, up from 735.94 billion yen in the previous year. However, this top-line growth failed to offset a significant decline in profitability. Operating profit dropped to 6.37 billion yen, nearly halving the 11.41 billion yen recorded in the prior half-year period. Pretax profit also saw a steep decline, falling to 612 million yen from 4.46 billion yen.
In section Market Quotes
LIXIL Swings to Net Loss as Operating Profit Slips
LIXIL Corp. swung to a net loss of 4.59 billion yen for the half-year ended September 30, a sharp reversal from the 3.36 billion yen profit reported during the same period last year. The Tokyo-based building materials manufacturer saw its bottom line hampered by shrinking margins despite a modest uptick in revenue.
Calculated under IFRS standards, these results translate to a loss per share of 15.96 yen, compared to earnings of 11.67 yen per share in the same window last year. The figures reflect a challenging period of cost management for the group as it navigates current market conditions.
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