Group net profit was down by 33.6% to Y27.46bn (拢148m) and sales were down by 1.4% to Y1.79trillion. These falls were in line with analyst predictions, but well down on estimates published by Dentsu in October last year, when it said group net profit would stand at Y30.46bn for the year.
When the Tokyo stock exchange closed earlier today, Dentsu's shares were trading down by 0.47% at Y641,000, while the Nikkei index rose by 2.52%.
The outlook for next year was for sales to continue to fall. Dentsu is predicting group net profit of Y13.2bn on sales of Y1.74trillion for the year ending March 2003.
It says it is expecting to generate some Y40bn in billings from this summer's World Cup tournament, to be held in Japan and South Korea. However, Dentsu is also predicting a one-off hit of Y15bn when it relocates its offices in November. However, the move should cut costs for the firm in the long term.
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