Sumitomo Mitsui H1 Profit Surges 53%

Sumitomo Mitsui Financial Group

reported a 53% gain in its net profit for the fiscal first half ended Sept. 30. Sumitomo Mitsui's profit for the period surged to Y505.71 billion, from a year-ago profit of Y331.04 billion. Its operating revenue rose 14% to Y2.363 trillion from Y2.068 trillion. For the current fiscal year, Sumitomo Mitsui lifted its net profit forecast to Y750 billion from Y580 billion. Sumitomo Mitsui shares closed at $9.72 yesterday.