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Sumitomo Metal Mining's Fiscal Q1 Attributable Profit Surges 221%

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Sumitomo Metal Mining (TYO:5713) recorded a 221% rise in attributable profit in the first fiscal quarter to 87.9 billion yen from 27.4 billion yen a year prior.

Earnings per share were 326.62 yen, up from 100.27 yen in the year-ago period, according to a Monday Tokyo bourse filing.

Net sales increased 42% to 540.1 billion yen from 379.6 billion yen previously.

For the fiscal year ending March 31, 2027, the company now forecasts attributable profit of 216 billion yen, basic EPS of 803.95 yen and net sales of 2.065 trillion yen, according to a separate filing.

Sumitomo Metal previously projected attributable profit of 139 billion yen, basic EPS of 518.08 yen and net sales of 1.883 trillion yen.

The new outlook takes into account recent trends in non-ferrous metal prices, exchange rates and other factors.

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