bearish
Takara Bio (4974 JP): Smaller-Than-Expected Decline in H1FY24 Profit; FY24 Guidance Revised Downward
465 Views16 Nov 2023 22:39
SUMMARY
- In H1FY24, Takara Bio Inc (4974 JP) reported 41% YoY decline in revenue to ¥19.1B, dragged by 46% YoY decrease in revenue from reagents, which contributed 78% of total revenue.
- Operating profit plunged 87% YoY to ¥1.4B, 28% ahead of guidance, due to lower-than-expected R&D expenses. Net profit decreased 87% YoY to ¥1.1B, 67% higher than the guidance.
- Takara Bio has cut FY24 sales, operating profit, and net profit guidance by 15%, 63%, and 64%, respectively, as the company is anticipating a sluggish life science R&D market globally.
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Tina Banerjee
Global Healthcare Analyst
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