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Kubota's six-month profit edges higher as revenue jumps

Kubota Corp. booked profit attributable to owners totaling ¥71.93 billion in the six months to June 30, compared with ¥71.00 billion in the year-ago period.

Basic EPS for the half was ¥58.33, up from ¥57.32 in the previous year.

Kubota generated ¥906.20 billion in revenue for the half, up 7.0% from ¥847.00 billion in the prior year. The farm and industrial machinery segment brought in ¥751.0 billion while the water and environment business posted ¥140.4 billion in revenue.

Operating profit rose to ¥101.14 billion in the half from ¥100.16 billion in the year-ago period.

The company announced an interim dividend of ¥16.00 per share for the year ending Dec. 31, up from an interim dividend of ¥15.00 per share in the prior year.

For the year ending Dec. 31, Kubota is targeting profits of ¥145.00 billion, operating profit of ¥204.00 billion and revenues of ¥1.820 trillion.

As of Aug. 2, US$1 was equivalent to ¥111.45.