Kajima net profit doubles in fiscal Q1

Kajima, Japan's largest contractor saw its net profit for the first quarter of the fiscal year rise +110% to JPY 6.5 billion (US$ 60 million) compared to the same period last year. The company's revenues were up +22.2% to JPY 412 billion (US$ 3.78 billion) for the three months to the end of June.

The company is maintaining its previous forecasts for the rest of the fiscal year, which ends on March 31, 2009. Revenues for the full year are expected to be JPY 1890 billion (US$ 17.3 billion), level with its performance last year.

Kajima was ranked 14^th in this year's International Construction league table of the world's 200 largest construction companies. Although this made it the largest Japanese contractor in the rankings, the previous year it was in 8^th position - a fall of six places.