The Telegraph
Since 1st March, 1999
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Toshiba loss deepens

Tokyo, Oct. 24 (AFP): Toshiba Corporation, Japanese electronics giant, said today its consolidated net loss grew to 32.18 billion yen ($291 million) in the six months to September from 26.4 billion yen a year earlier due to lower sales of personal computers and television sets.

Toshiba also attributed the poor result to rises in corporate tax and the weaker-than-expected performance of some affiliates. The group pre-tax loss shrank to 17.60 billion yen in the half-year period from 43.81 billion yen a year earlier, while sales fell to 2,61 trillion yen from 2.64 trillion yen, Toshiba said.

The company said it was now forecasting a net profit of 25 billion yen on a consolidated basis in the year to March 2004, down from 35 billion yen projected previously, but up from a net profit of 18.5 billion yen recorded a year earlier.

Toshiba maintained recurring profit forecast of 90 billion yen for the full year and revenue projection of 5.65 trillion yen.

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