Revenues at Kobelco Cranes grew 24% to JPY 56.6 billion (US$ 554 million) in the fiscal year ending 31 March 2014. The segment achieved an operating profit of JPY 3.2 billion (US$ 31 million), compared to the previous year’s loss of JPY 2.2 billion (US$ 22 million).
Commenting on the figures, a company statement said, “Unit sales increased in Japan on the back of government economic measures and reconstruction demand from the Great East Japan Earthquake. In overseas markets, unit sales increased in Southeast Asia.”
The company has made a bullish forecast for this year, with crawler crane sales forecast to rise another 29% to JPY 73 billion (US$ 711 million), however, operating profit is expected to remain more or less unchanged at JPY 3.5 billion (US$ 34 million).
The company said this forecast was based on many of the same factors that lifted sales last year – reconstruction work and stimulus measures at home, combined with a general economic recovery in its export markets.