NTT reports mixed results for nine month financials
13 February 2018 | Natalie Bannerman
NTT Communications has released its financial results for the nine months ended 31 December 2017.
For the nine month period NTT reported an increase of 2.9% in its non-consolidated total operating revenues for the same period last year, with cloud computing platforms showing as the biggest area of growth. As for its total operating revenues for the entire NTT Communications Group, an increase of 3.3% was reported year-on-year.
The company has also increased its non-consolidated income by 14.3% compared to the same period last year. The total operating income for the entire NTT Communications Group fell by 18.5% which is likely due to the increase in operating expenses with grew by 6.1%.
Looking at the company’s balance sheet, the amount of fixed assets for its telecommunications businesses fell by 1.6%, whereas assets for its total investments and other assets this rose by 6.88% meaning that its total current assets fell by 7.4%.
The company’s total liabilities increased 3.5% to 562,256 million yen, interestingly while long term liabilities increased the short term ones decreased. Net assets also fell for the period by 1.2%.
Include in the report is the financial forecast for the year ending 31 March 2018. In the new forecast, operating revenue is set at 1,330 billion yen for NTT Communications Group and 940 billion yen for NTT Communications. Operation income has been predicted at 135 billion yen for the NTT Communications Group and 110 billion yen for NTT Communications, up from the 93 billion that was previously predicted in May 2017. Similarly recurring profit was also increased from 103 to 120 billion yen and net profit was raised from 73 to 85 billion yen, for NTT Communications.
In related news, NTT was recently awarded Microsoft Gold Cloud Platform accreditation for its managed services expertise in the cloud. The company said that the accolade underscored its “unique capabilities in delivering on managed cloud”.