Sumitomo Mitsui Q1 Net Profit Down 43%

Sumitomo Mitsui Financial Group (NYSE: SMFG) reported a 43% drop in its financial Q1 profit.

Sumitomo Mitsui's quarterly net profit fell to 117.8 billion yen ($1.5 billion), versus 206.6 billion yen, in the year-ago period.

Sumitomo Mitsui maintained its full-year net profit view of 480 billion yen, versus analysts' estimates of 494.4 billion yen.

Sumitomo Mitsui shares closed at $6.57 on Friday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.