The company published its financial results for FY2022, recording increased revenues.
Brother reported sales revenue of ¥815.3 billion ($6.04 billion/ €5.5 billion), an increase of 14.7% year-on-year. Brother said it saw an increase of hardware sales in the P&S business compared to the previous fiscal year when there were supply constraints, and other factors.
In the P&S business, gross profit decreased due to the change in the sales ratio of hardware and consumables as well as decreased sales of consumables, despite effects from price adjustments, Brother explained. Sales revenue for the P&S segment were ¥496.7 billion ($3.68 biliion/ €3.35 billion) and increase of ¥72.5 billion ($537 million/ €489 million), year-on year.
Business segment profit decreased substantially due to an increase in Selling, General, and Administrative Expenses (SG&A), soaring parts and materials costs, and other factors, according to Brother. Profits for the P&S segment were ¥37.1 billion ($275 million/ €250 million), a decrease of ¥22.7 billion ($168 million/ €153 million).
Brother projects sales revenue to increase for FY2023 to ¥840 billion ($6.2 billion/ €5.7 billion), a 3% increase year-on-year.
