Flat results expected for RMGT in FY 2016-17

Consolidation working for Mitsubishi sheetfed and Ryobi

By
IPP Desk
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459
Flat

RMGT expects to announce its financial results for the year ending 31 March 2017 in early May. We are expecting the company to announce its net sales figure in the region of 28 billion Yen (244 million Euro). This figure is essentially similar to the previous year’s figures of 28.383 billion Yen. The 1 April 2016 to 31 March 2017 operating profit was 1.848 billion Yen and with the flat results overall, there could be a narrow increase or decrease in the FY 16-17 results of perhaps 1 to 2% either way.

The results are expected to be flat due to the steep fall in the China market in the past year that has affected all five of the major sheetfed press manufacturers. Global economic uncertainty and market-specific factors such as the strong Japanese Yen, Brexit and demonetisation in India have also affected new offset press sales. The India market improved appreciably for the company in the past year.

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