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Japanese Toshiba Corp expects to profit
The Japanese concern Toshiba Corp expects operating profit growth in the current financial year by 14 percent to record values, counting on good sales of power grid equipment and flash memory chips.
Toshiba expects doubling the profits of the infrastructure and energy division against the background of increased demand for equipment for power grids and railways.
At the same time, the company predicts a drop in revenues from the production of semiconductors, but it will still provide it with more than half of its operating profit.
Toshiba, the leading provider of flash memory cards for smartphones and tablet computers, expects to generate operating profits of 330 billion yen ($ 3,2 billion) in the fiscal year ending March 31.
The company's expectations were more modest than the consensus forecast of analysts polled by Reuters at the level of 355 billion yen.
Last fiscal year, Toshiba's operating profit increased by 47 percent to 291 billion yen.