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Today the company marked a 28 month high after raising sales income targets, with demand for printers slated to grow.
The Financial Times reported that Canon has hit a 28 month high today after raising sales income targets “for the full year as demand for printers is expected to grow on improving global economic conditions.”
Yesterday Canon revealed that “it expects to report a net profit of ?245bn ($2.2bn) for the 12 months ending December 31” which is an increase of 11 per cent from the outlook stated in July.
This number “represents a year-on-year increase of 62.6 per cent”. Full-year sales are pitted to reach ?4.08tn which is a rise of 19.9 per cent year-on-year.
The company’s reported net profit for the 3 months which concluded on 30 September increased by 158.6 per cent, climbing to ?63.1bn “on solid demand for medical equipment and a recovery in demand for laser printers in China.”
Today Canon shares reached “the highest level since June 25, 2015”.