Demand for small all in one printers increased for work and learning from home markets, but office print volumes declined and Brothers Karaoke users stop singing!
The company has released its annual results for the year ended 31 March 2021 commenting that the demand for small size all in one printers increased in the work and learning from home markets, but said that office print volumes had declined.
Sales revenues for the year were ¥631.8 billion ($5.79 billion/ €4.79 billion), a decrease of ¥5.4 billion ($49.9 million/ €41.3 million) compared to the previous year. The company said that in the printing and solutions business, sales were on a par with the previous year’s level despite a decrease in sales volume resulting from supply restrictions.
Sales revenues in the printing and solutions business were ¥384.8 billion ($3.52 billion/ €2.9 billion), a decrease of ¥59 billion ($499 million/ €413 million) compared to the previous year. Profits were up ¥39 billion ($358 million/ €295 million)
Brother went on to say that products in the SOHO segment performed well, as well as increase in demand for consumables, “however, these were not enough to compensate for decline in print volume in offices and effects from delays in supplies of ink products and consumables”. Brother added that sales revenue for the quarter were affected by slowdown in demand for hardware in the first quarter resulting from lockdowns due to the pandemic.
The Personal and home business recorded a significant increase in sales revenue, backed by growing demand for home sewing machines from people staying home or conducting a second business.
Brother’s network and contents business was “deep into the red” as a result of a drop in sales from the karaoke club business and sales of karaoke machines.
Looking forward, Brother has increased the expected forecasted amounts upwards. The company now expects full year sales of ¥600 billion ($5.7 billion/ €4.8 billion).
