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Komatsu profit up 26% in first 9 months due to increased demand for construction equipment
Posted By Wayne Grayson On February 3, 2014 @ 12:01 am In Construction News | No Comments
The company reported net sales of $13.6 billion (1.38 trillion yen), up 3 percent over the same period in 2012. Operating income rose 10 percent to $1.6 billion (165.6 billion yen). The company’s fiscal year ends on March 31, 2014.
Profit for the company saw a huge increase, up 26.6 percent to $1.1 billion (115.3 billion yen).
The company attributes the gains to increased demand for construction equipment in Japan and China as well as other regions.
The Construction, Mining and Utility Equipment division saw net sales of $12.2 billion (1.25 trillion yen), an increase of 3.6 percent. The division scored a profit increase of 10.6 percent to $1.6 billion (164.1 billion yen).
Despite the increases, Komatsu has not made any changes to the projections for the full fiscal year it made in October. That outlook cut the forecast for profits by 26 percent year-over-year to $1.39 billion (136 billion yen) and decreased the forecast for net sales 9.3 percent to $19 billion (1.86 trillion yen).
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