Nintendo forecasts profit rise of 26% this year

Nintendo has forecast that its profit will rise by another 26 per cent in its fiscal year 2008-2009, according to

Bloomberg

.

Having announced a doubling in operating profit in its current FY results this morning, the firm has predicted that net profit will reach 325 billion yen ($3.13 billion) in the 12 months to March 31st – up from the 257.3 billion yen reported for this year.

The company also forecast that sales could grow 7.6 percent to 1.8 trillion yen. The firm enjoyed a huge 73 per cent year-on-year jump in revenues in its FY statement.

Operating profit – which is sales minus the cost of goods sold and administrative expenses – will probably climb 8.8 per cent to 530 billion yen, Nintendo added.