Toshiba expects drop of 15.7% in annual profit, limited coronavirus impact

[TOKYO] Toshiba Corp expects annual operating profit to drop 15.7 per cent, it said on Friday, as a recent portfolio overhaul helps the industrial conglomerate limit the impact of the coronavirus outbreak.

It forecast profit of 110 billion yen (S$1.4 billion) for the year through March 2021, down from 130.46 billion yen a year earlier.

The outlook compared with the 136.71 billion yen average of 13 analyst estimates compiled by Refinitiv. 

REUTERS