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Nintendo profit up 14.4%

Ups US shipments

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Nintendo today said it is increasing the number of GameCube consoles it hopes to ship after reporting first-half year-on-year profit growth of 14 per cent.

For the six months to 30 September, Nintendo made ¥34.3 billion ($278 million) - ¥242.47 a share - on sales of ¥225.7 billion, an increase of 18 per cent on the same period last year.

Looking ahead, Nintendo expects to turn in a profit of ¥80 billion on sales of ¥580 billion for the year to 31 March 2002. That forecast matches the company's past guidance. However, it increased its operating profit prediction to ¥130 billion on the back of reduced component costs.

How does the company account for the ¥50 billion difference between operating profit and income? Marketing its console against Sony and Microsoft, that's what.

And having shipped 700,000 GameCubes in the US this past weekend, Nintendo said it will boost production by a further 200,000 units by the end of the year, raising its US sales target for 2001 to 1.3 million consoles. ®

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