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Sumitomo Mitsui H1 Profit Surges 53%

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Sumitomo Mitsui Financial Group (NYSE: SMFG) 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.

 

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