Hitachi Ltd, the Japanese conglomerate, announced it’s consolidated financial results this morning for its second fiscal quarter 2019, which ended September 30th 2019. Due to the reclassification of its reporting segments, the company has started to provide greater transparency with respect to the financial performance of its Healthcare business unit, which accounts for approximately 2% of overall group revenues. Its latest financial statements prepared under IFRS indicate that sales revenue for the Healthcare business returned to growth during the second fiscal quarter, offsetting the contraction at the start of its fiscal year. The overall healthcare sales revenue reached ¥49 billion during the second fiscal quarter, compared with ¥40.8 billion in 2018, an increase of +20.1% year-on-year (YoY). On a fiscal year-to-date basis, sales revenue reached ¥81.9 billion, compared with ¥76.9 billion in 2018, an increase of +6.5% YoY.
The forward-looking assumptions show that Hitachi is currently targeting FY2019 healthcare revenues to reach ¥183.5 billion which would represent full-year sales growth of +4% YoY, indicating that the firm expects revenues to continue to grow, although at a slower pace for the remainder of the fiscal year.
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