Asian demand lifts Kobelco crane sales

Revenues for Kobelco Cranes were up 22% to JPY 39.8 billion (US$ 393 million) in the first nine months of the fiscal year to March 31, compared to JPY 32.7 billion (US$ 323 million) for Q1-3 of fiscal 2012. Ordinary income for the first nine months of the year stood at JPY 2.5 billion (US$ 25 million), compared to the loss of JPY 1.2 billion (US$ 12 million) of a year ago.

The company said this rise in sales was due to buoyancy in its domestic market and elsewhere in Asia, which offset weakness in Europe.

“Unit sales increased in Japan on the back of monetary, fiscal and other government economic measures and reconstruction demand from the Great East Japan Earthquake. In overseas markets, unit sales decreased in Europe but increased in Southeast Asia,” it said in a statement.”

Kobelco added that it expected full-year sales of cranes to come in at JPY 56 billion (US$ 553 million), which would represent a 23% increase on the fiscal 2012 figure of JPY 45.5 billion (US$ 449 million). Ordinary profit for the year is expected to come in at JPY 3 billion (US$ 30 million), compared to 2012’s loss of JPY 2.2 billion (US$ 22 million).