June 5, 2020 / 4:17 AM / a month ago

Toshiba expects drop of 15.7% in annual profit, limited coronavirus impact

TOKYO, June 5 (Reuters) - Toshiba Corp expects annual operating profit to drop 15.7%, it said on Friday, as a recent portfolio overhaul helps the industrial conglomerate limit the impact of the coronavirus outbreak.

It forecast profit of 110 billion yen ($1 billion) for the year through March 2021, down from 130.46 billion yen a year earlier.

The outlook compared with the 136.71 billion yen average of 13 analyst estimates compiled by Refinitiv. ($1=109.2000 yen) (Reporting by Makiko Yamazaki)

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