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DOWNTURN AT KAWASAKI

Although remaining profitable, Kawasaki Heavy Industries motorcycle division has reported a sales and earnings slide in the first quarter of its current financial year to 30 June.

Revenue from bikes and associated products fell by 3.9 per cent to £374.8m. Related operating profit plummeted by 89.4 per cent to a mere £1.5m. As a proportion of KHI’s total turnover, the motorcycle business declined from 24 per cent in the same period last year to 21 per cent.

At group level, KHI was much healthier thanks to significant growth in its aerospace, gas turbine, plant & infrastructure and precision machinery operations. Overall revenue rose by 7.7 per cent to £1.76bn. Operating profit was down by 35 per cent to £63m but net profit increased by 20.5 per cent to £31.3m.

Tokyo Stock Exchange investors were mildly impressed, pushing up Kawasaki’s share price by 1.5 per cent in the trading session that immediately followed this annoucement.

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