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Tadano's Profit Fall 45% in Q1; Net Sales Up

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Tadano's (TYO:6395) profit attributable to owners of the parent fell 45% to 1.93 billion yen for the first quarter from 3.5 billion yen a year earlier.

The Japan-based construction machinery maker's basic EPS declined to 15.29 yen from 27.60 yen a year ago, according to a Tokyo bourse filing on Thursday.

Net sales jumped 6.6% to 85.85 billion yen for the three months ended March 31 from 80.5 billion yen in the prior-year period.

For the year ending Dec. 31, the company expects attributable profit of 14 billion yen, basic EPS of 110.80 yen, and net sales of 400 billion yen. The full-year dividend is expected at 34 yen per share, to be paid equally in two tranches, lower than the 44 yen in the previous year.

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