Sharp says expects significant profit improvement, shares surge

Back to black: Sharp expects to post an operating profit of about 40bil yen (RM1.6bil) this financial year.

TOKYO: Japan's Sharp Corp  said it expected significant improvement in annual profit on restructuring and synergies with new owner Foxconn, sending shares in the display maker soaring 10%.

The statement by Sharp comes after the Nikkei business daily reported it expects to post an operating profit of about 40bil yen (RM1.6bil) this financial year, much bigger than a consensus of 6.6bil yen (RM260mil) in a Thomson Reuters I/B/E/S poll of 11 analysts.