Canon lifts Annual Profit Forecast

The following appears on reuters.com

* Sees 2017 operating profit up 44 pct at 330 bln yen

* Forecast above 295.8 bln yen consensus estimate

* Printer, camera businesses recovering (Adds risk of hefty EU fines)

By Makiko Yamazaki

TOKYO, July 27 (Reuters) – Japan’s Canon Inc raised its annual operating profit forecast in its second upward revision this year on a recovery in printer sales as well as brisk orders for equipment used to manufacture organic light emitting diode (OLED) screens.

The company, which has also seen a pick-up in sales of high-end cameras, forecast profit to rise 44 percent to 330 billion yen ($3 billion) for the year through December.

That compares with an average analyst estimate of 297 billion yen and its previous estimate of 270 billion yen


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