Money Forward Turns to Profit in Fiscal H1
Money Forward (TYO:3994) swung to a profit attributable to owners of the parent of 553 million yen in the fiscal first half from a loss of nearly 2.2 billion yen a year earlier.The fintech company's basic earnings per share stood at 10 yen versus a loss of 39.97 yen a year ago, according to a Tokyo bourse filing on Monday.Net sales jumped 25% to nearly 29 billion yen in the six months ended May 31 from 23.2 billion yen in the prior year.In a separate filing, Money Forward raised its financial forecasts for the full fiscal year ending Nov. 30, citing strong performance of the fintech segment and anticipated operational investment securities sales.Money Forward now expects an attributable loss of between 700 million yen and 3.2 billion yen, compared with between 700 million and 3.7 billion yen initially, and loss per share of between 12.65 yen and 57.82 yen, versus loss per share between 12.60 yen and 66.59 yen previously.Its full-year net sales estimates were raised to between 60.5 billion and 62.3 billion yen, up from the earlier projection of 53.4 billion yen and 57.6 billion yen.Money Forward does not plan to pay any interim or year-end dividends for the current fiscal year.
