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Sumitomo Realty's attributable profit jumps 9.3% YOY in FY'18

Sumitomo Realty & Development Co. Ltd.'s profit attributable to owners of its parent company for the 12 months ended March 31 grew 9.3% to nearly ¥130.82 billion from the ¥119.73 billion it recorded in the prior-year period.

The Japanese property company's EPS increased to ¥276.02 from ¥252.62 during the comparable period, while its revenue from operations jumped 6.8% to about ¥1.013 trillion from ¥948.40 billion.

Sumito Realty's operating income during the reporting fiscal year amounted to nearly ¥220.42 billion, representing a 7.2% annual improvement in comparison with ¥205.64 billion. Meanwhile, the developer's ordinary profit came at about ¥204.56 billion from fiscal year 2017's ¥186.87 billion.

Looking ahead, the company is expecting its attributable profit to grow to ¥140.00 billion for the 12 months ending March 31, 2020. It also anticipates its revenue from operations to reach ¥1.020 trillion, operating income to amount to ¥234.00 billion and its ordinary profit to rise to ¥220.00 billion.

As of May 17, US$1 was equivalent to ¥109.94.