MHI revises earnings upwards following strong sales

Mitsubishi Heavy Industries (MHI) has announced its nine-month financial earnings, revising its initial earnings estimates upwards to reflect strong results.

The group's commercial aviation and transportation systems, which includes its commercial marine business, reported total earnings of 334.4 billion Yen (US$3.27 billion) for the period April-December 2013. This compared favourably to the company's 2012 earnings for the same period, which totaled 290.1 billion Yen (US$2.84 billion).

Regarding operating income, MHI's commercial aviation and transportation systems unit reported 9.9 billion Yen (US$96 million), a good result compared to the previous year's loss of 12.1 billion Yen (US$118.4 million).

In light of the improved consolidated earnings forecasts for the 2013 fiscal year, MHI's net sales forecasts were revised upward from the projections issued on October 31, 2013.

The uptick in sales was mostly due to an increase in sales in the machinery, equipment and infrastructure domains, as well as flow-on effects resulting from the integration of MHI and Hitachi's thermal power generation system business operations on February 1, 2014.

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