KAWASAKI DOUBLES NET PROFIT
October 31 2006.
Kawasaki Heavy Industries Ltd. has announced its group net profit more than doubled in the fiscal first half to September as profits increased from aircraft parts and motorcycles.
The Kobe-based heavy machinery maker said its net profit climbed to Y11.41 billion from Y5.23 billion a year earlier, while sales rose 8.8% to Y645.85 billion from Y593.58 billion.
Kawasaki Heavy said sales of aircraft engines as well as parts for Boeing 777 jets went up. As a result, sales in its gas turbine and machinery division grew 17% to Y80.51 billion. Operating profit in the division rose to Y4.82 billion from Y1.35 billion.
Its motorcycle sales in North America and Europe also rose, contributing to the 14% increase in the company's sales in the general machinery division to Y189.93 billion. The division's operating profit doubled to Y10.90 billion from Y5.14 billion.
Kawasaki Heavy booked an operating loss of Y2.05 billion in the shipbuilding division due largely to higher steel prices.
The company left unchanged its earnings outlook for the fiscal year to March. It expects Y26 billion in group net profit and Y1.430 trillion in sales.
Its financial results are based on Japanese accounting standards.

Source: Nikkei