Yamato produces operating loss in H1

Yamato produced operating revenues of ¥*729.8bn in H1 of FY18, up 3.3% year-over-year. However, it made an operating loss of ¥12.9bn and a net loss overall of ¥12.1bn.

Delivery revenues fell 3.4% in H1 to ¥566.8bn despite its TA-Q-BIN service producing revenue growth of 2.6%.TA-Q-BIN volumes grew 3.6% in the quarter. An increase in expenses led to an operating loss of ¥27.3bn for Delivery.

Its BIZ-Logistics segment also saw revenues fall (-0.7%). It managed to make a small operating profit of ¥2.0bn but this represented a 6.8% year-over-year decrease.

Operating expenses were up 8.3% in H1. This was partly due to an increase in personnel expenses, which were up 7.2% as a result of a 4.8% increase in employees. Subcontracting expenses were also up 9.1% in the quarter.

For FY18, Yamato forecasts revenues of ¥1,500bn and operating profit of ¥25.0bn.

Source: Yamato