Yamato Holdings Expects 40 Pct Operating Profit Jump

Economy

Tokyo, July 31 (Jiji Press)--Yamato Holdings Co. <9064> said Friday the parcel delivery firm's group operating profit for the current business year through next March is expected to soar 43.2 pct year on year to 64 billion yen.

Sales are estimated at 1,638 billion yen, up 0.5 pct.

The small parcel delivery volume is projected to hit a record high thanks to stay-at-home demand amid the spread of the novel coronavirus, the company said.

For April-June, Yamato Holdings logged an operating profit of 9,953 million yen, in a turnaround from the 6.1-billion-yen loss a year earlier. Consolidated sales rose 2.7 pct to 392,015 million yen.

Industry peer SG Holdings Co. <9143>, the parent of Sagawa Express Co., said Friday it revised up its group operating profit estimate for the year to March 2021 from 78.5 billion yen to 87 billion yen, up 15.3 pct from the year before.

[Copyright The Jiji Press, Ltd.]

Jiji Press