je.st
news
NTT misses FY outlook, sees flat profits in 2014
2014-05-13 10:28:00| Telecompaper Headlines
(Telecompaper) Japanese operator NTT reported annual results slightly below its outlook, due to a weak performance at its mobile unit Docomo. Revenues were up 2.1 percent to JPY 10.925 trillion in the 12 months to March, but fell short of a target of JPY 11 trillion. Operating profit rose 1.0 percent to JPY 1.214 trillion, versus a target of 1.230 trillion. Net profit still increased 12.2 percent to JPY 585.5 billion, in line with guidance, and NTT increased its dividend slightly to JPY 170 per share. For the current year to March 2015, NTT expects growth in revenues of around 2.5 percent, but operating and net profit will be little changed year-on-year. The dividend should rise again, to JPY 180 per share, and the company plans to spend JPY 250 billion buying back shares from the government. NTT said it will reduce capex slightly this year, to JPY 1.750 trillion from JPY 1.796 trillion last year, taking the ratio to sales to 15.9 percent. It aims to bring this down further to 15.0 percent in the following year, helped by a targeted JPY 600 billion in cost savings on its access network. This target was increased by JPY 100 billion and compares to the cost base in 2011 when it started the network rationalisation programme.
Tags: flat
outlook
sees
profits
Category:Telecommunications
Latest from this category |
All news |
||
|
|||