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Furukawa Electric's Attributable Profit Jumps 335% in Fiscal Q1

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Furukawa Electric (TYO:5801) posted a 335% year-over-year surge in attributable profit for the fiscal first quarter to 22.2 billion yen from 5.1 billion yen.

Basic EPS was 31.60 yen, compared with 7.25 yen a year earlier, according to a Tokyo bourse filing on Thursday.

Revenue rose 24% to 365.2 billion yen from 293.7 billion yen for the three months ended June 30.

In a separate filing, the company raised its full-year attributable profit forecast to 105.0 billion yen from 82.0 billion yen and net sales to 1.530 trillion yen from 1.460 trillion yen, while setting basic EPS at 149.25 yen.

The company plans to pay interim and year-end dividends of 11 yen per share each for the current year.

Shares of the company fell more than 1% in recent trade.

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