Despite a 30 per cent decrease in business profit, Epson's professional print results increased

Epson has released its second quarter results, recording ¥516.1 billion in revenue for the first half of the financial year, a 3.1 per cent decrease compared to the same period last year. Business profit was ¥19.1 billion, a 30.1 per cent decrease from the same period last year.

Its printer division revenue dipped slightly, clocking in at ¥341.2bn, down 1.0 per cent year on year, while segment profit was ¥34.4bn, down 5.1 per cent year on year.

Despite a slightly lower performance in print broadly, Epson attributes most of the decreases to its home and office printer markets, along with lower cartridge sales as it moves customers to higher-capacity ink tanks. Its professional print revenue grew in the same period.

In its report, the company notes that “Commercial and industrial inkjet printer revenue moved sideways due to negative foreign exchange effects, which offset ongoing solid demand in the growing signage and textile printer markets.”

It’s POS sales did improve slightly, which the company attributed partly to tax changes in the Italian market.

The print business fared better than the other parts of the company, such as its projector, robot, and wearable industrial products.

Epson says it is investing more efficiently in future growth by tightening the focus on core competencies, with business profit heavily impacted by a fall in revenue associated with the deteriorating external environment (Brexit, US-China trade war) and by negative foreign exchange effects.

Profit from operating activities was ¥19.3bn, down 24.5 per cent year on year. Profit before tax was ¥19.1bn, down 29.0 per cent year on year. And profit for the period attributable to owners of the parent company was ¥12.2bn, down 39.3 per cent year on year.

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