Kobelco sales up nearly 9%

Sales at Kobelco Cranes were up 8.8 % in the first half of 2015 compared with the same period a year earlier. The sales for the Japanese crane manufacturer from April to September 2015 were JPY 39,058 million (US$ 317 million) compared with JPY 35,899 ($ 291 million) for the same six month period in 2014.

Operating income, however, was down 36.7 % at JPY 2,231 million ($ 18 million) from JPY 3,525 million ($ 29 million) in the first half of 2014. This was attributed to a one-off loss of JPY 3,254 million ($ 26 million) at a subsidiary company in China.

Domestic sales in the first half of 2015 were up around 5 % at around 260 units, the manufacturer said.

In outlook, full year sales for 2015 are forecast to be JPY 76,000 million ($ 617 million) against 2014 sales of JPY 71,120 million ($ 577 million). The manufacturer expects domestic market demand to continue at a high level, largely from Olympics construction and urban redevelopment work in the Kanto area of Japan. North America is forecast to grow but parts of Southeast and East Asia will continue a downward trend. This will mean an overall decrease in sales around 10 %, the manufacturer said.