Strong year for Kobelco Cranes

Sales for Kobelco Cranes were up 25.6% to JPY 71.1 billion (US$ 596 million) in the fiscal year ending March 31. Ordinary income grew by nearly 60% to JPY 5.1 billion (US$ 43 million), for a margin of 7.2%.

The company said crane sales were up in its domestic market thanks to increased public spending, and that demand was strong in export markets too, including North America and the rest of Asia.

The company expects these favourable conditions to continue this year.“Domestic demand is anticipated to remain firm on the back of a high level of public investment. Overseas demand is also expected to be firm mainly in North America and Asia. Owing to these factors, unit sales in fiscal year 2015 are expected to be higher than fiscal year 2013, and as a result, segment sales are also expected to be higher,” said a statement.

The company is forecasting sales of JPY 81 billion (US$ 680 million) in the coming year, split equally between the first and second half. Ordinary income is expected to remain around the JPY 5 billion (US$ 42 million) mark.