Japans ENEOS reports a 73% decline in net profit in 2022-2023, surpassing expectations
Mar 22,2024 | DAXTROMNSOLAR
Japanese energy company ENEOS revealed that its net profit for the fiscal year 2022-2023 had plummeted by 73%, surpassing analysts' forecasts. Despite the significant decline, the company managed to exceed predictions due to cost-cutting measures implemented throughout the year. ENEOS cited the ongoing global energy transition, the COVID-19 pandemic, and geopolitical tensions as major challenges it faced during the fiscal year. The company remains optimistic about its future prospects as it continues to invest in renewable energy sources and strives to adapt to changing market conditions.
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