OLYMPUS SEES 12 PCT RISE IN 1986/87 CURRENT PROFIT
Olympus Optical Co Ltd <OOPT.T> predicted
parent company current profit of 5.50 billion yen in the year
ending October 31, 1987, up 12 pct from a year earlier,
assuming a yen/dollar rate of 147 yen in the second half, a
company spokesman told Reuters.
    Sales in 1986/87 are estimated at 122 billion yen, up 0.9
pct from a year earlier.
    But net profit will fall 71.7 pct to three billion yen in
1986/87 from a year earlier when the company made a 10.59
billion net profit due to sales of real estate assets worth
seven billion yen, the spokesman said.
    The precision instrument maker will retain 13 yen dividend
for 1986/87, the spokesman said.
    It earlier reported parent company net profit of 1.34
billion yen in the six months ended April 30, down 85.5 pct
from a year earlier, on sales of 60.92 billion, down 0.1 pct.
    The poor net was mainly due to a fall to 45 mln yen in
extraordinary profit in the first half, against 7.70 billion of
such profit a year earlier, due mainly to sales of assets.
    The drop in first half sales was due to the yen's rise
against the dollar, which cut sales by some 4.30 billion yen.
    The dollar averaged 157 yen, against 192 a year earlier.
 REUTER
