The profit of Mitsubishi Heavy Industries’ (MHIs’) shipbuilding unit increased year on year (y/y) for April to June 2015.
As Japan’s financial year starts on 1 April, April to June marks the first quarter of the companies’ financial year.
The operating income of MHI’s commercial aviation and transportation systems unit, of which shipbuilding is a part of, rose by 16.7% y/y to JPY22.8 billion (USD184.38 million).
For the period, orders received were up by JPY36 billion from the year-ago period, mainly because of an increase in the number of LNG carrier orders.
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As at 30 June, MHI’s shipbuilding order backlog has 38 vessels; including 10 LNG carriers, seven LPG carriers, three ferries, and six patrol vessels.
The unit’s sales were up by JPY31 billion from the year-ago period, because of growing sales of aircraft and merchant ships, helped by the weaker yen.
MHI has thus raised its full-year earnings forecast for its shipbuilding unit, from JPY30 billion to JPY45 billion.
As a whole, MHI, which also makes power plant equipment, defence systems and machinery, had a net profit increase by 57.7% y/y to JPY35.5 billion.
This post was sourced from IHS Maritime 360: View the original article here.