Mitsubishi Heavy Industries Ltd. Announced that in the first half of 2011 financial year, its net profit is more than doubled compared to same period last year. This success is attributed to improved profits from power systems and other operations and from the one-time selling of a real estate asset.
Specifically, the net profit for the fiscal first half climbed to Y39.89 billion from Y17.37 billion in the first half of 2010. For the same period, operating profit reached Y73.18 billion (+13%) from Y64.57 billion in 2010, while revenue decreased to Y1.294 trillion (4.7%) compared to 2010’s Y1.357 trillion.
Until March 2012, the company estimates a full year net profit of Y35 billion, a 8.7% increase in operating profit up to Y110 billion and a 1.9% loss in revenue to Y2.85 trillion.
With its headquarters in Tokyo, Japan, Mitsubishi Heavy Industries Ltd. is one of the most important heavy machinery manufacturers, with almost 3 trillion sales in fiscal year 2010. MHI’s offers a large variety of products and services, from space rocketry to air conditioning system, including also: shipbuilding, power and chemical plants, environmental equipment, industrial and general machinery, aircraft, steel structures.