Canon lifts annual profit forecast on recovery in printer sales

Canon lifts annual profit forecast on recovery in printer sales
FILE PHOTO: Canon cameras with lenses are pictured at the stand of Japanese camera maker Canon on the press day of the world's largest fair for imaging in Cologne September 17, 2012.
PHOTO: Reuters

TOKYO - Japan's Canon Inc raised its annual operating profit forecast on Thursday in its second upward revision this year, helped by a recovery in printer sales.

The company, which also makes copiers and cameras, forecast profit of 330 billion yen (S$4.1 billion) for the year through December, up from 270 billion yen estimated three months prior.

That compares with an average forecast of 297.14 billion yen from 21 analysts surveyed by Thomson Reuters I/B/E/S.

The company also said second-quarter operating profit climbed 40.4 per cent to 96.3 billion yen, beating the 81 billion yen average of five analyst estimates.

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