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Sumitomo Metal Mining posts 24.1% YOY jump in fiscal Q1'18 profit

Sumitomo Metal Mining Co. Ltd.'s attributable profit rose 24.1% year over year to ¥28.91 billion in the first quarter of fiscal 2018, it said Aug. 8.

The company's net sales, meanwhile, jumped 14.5% to around ¥241.98 billion.

Sumitomo Metal Mining maintained its full-year net profit forecast at ¥94 billion, or ¥342.07 per share, while net sales are seen coming in at ¥930 billion.

For the first half of its fiscal 2018, the company lifted its net profit expectations to around ¥51 billion from ¥47 billion earlier.

Sumitomo Metal Mining plans to pay a year-end dividend of ¥52 per share.

As of Aug. 8, US$1 was equivalent to ¥110.94.