MES Earns Less

Japan’s Mitsui Engineering & Shipbuilding has posted JPY 557.93 billion (USD 4.75 bn) revenue for the nine months ending December 31, 2014, a 26.4% increase compared to the same period last year. However, despite the rising revenue, MES recorded JPY 9,248 billion (USD 78.8 m) net income,  a 12% slide compared to 2013. 

The company’s Ship & Ocean sector recorded a little over JPY 159 billion (USD 1,35 bn) in new orders for the three-month period, a 49.9% dip compared to JPY 317.64 billion (USD 2.7 bn) worth of new orders in 2013. On the other hand, the sector’s net sales increased by 36% to JPY 339.9 billion (USD 2.9 bn).

The Japanese shipbuilder has forecast JPY 12 billion (USD 102.3 m) net income for the fiscal year ending March 31, 2015.

World Maritime News Staff

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