Kawasaki Heavy Industries unveiled that its ship and offshore division suffering losses for the financial year ended 31 March 2011, Seatrade Asia reports.
The Tokyo-based group announced on Thursday that revenue for the ship and offshore division fell 22% year-on-year to JPY118.4bn ($1.5bn) compared to previous year's figure of JPY151.9bn. In the financial year 2010-11, Kawasaki won orders for 11 bulkers and one submarine worth JPY78.9bn, surpassing the order worth of JPY16.1bn in 2009-10.
The group's order backlog for the reporting period, however, dropped 19% to JPY177.3bn compared to the previous year. Looking ahead, Kawasaki forecast revenue of JPY110bn and operating loss of JPY4bn in the coming year for its ship and offshore division. It also expects to win new orders worth JPY60bn, down 24% year-on-year.
The Tokyo-based group announced on Thursday that revenue for the ship and offshore division fell 22% year-on-year to JPY118.4bn ($1.5bn) compared to previous year's figure of JPY151.9bn. In the financial year 2010-11, Kawasaki won orders for 11 bulkers and one submarine worth JPY78.9bn, surpassing the order worth of JPY16.1bn in 2009-10.
The group's order backlog for the reporting period, however, dropped 19% to JPY177.3bn compared to the previous year. Looking ahead, Kawasaki forecast revenue of JPY110bn and operating loss of JPY4bn in the coming year for its ship and offshore division. It also expects to win new orders worth JPY60bn, down 24% year-on-year.