Mitsui OSK Lines Raises Fiscal Year Earnings Forecast

MT Newswires Live

Aug 03

Mitsui OSK Lines (TYO:9104) has revised its forecast for first-half profit attributable to owners of the company to 137 billion yen, up 77.9% from 77 billion yen previously, according to a Tokyo bourse filing on Monday.

The shipping and transport company now expects earnings per share of 398.66 yen, up from 224.10 yen previously for the six months ending September 30.

The revenue forecast was increased to 1.235 trillion yen from 1.100 trillion yen.

For the full year, the forecast for the profit attributable is revised upward to 240 billion yen, up 41.2% from 170 billion yen previously.

The earnings per share for the fiscal year ending March 31 is expected to be 698.27 yen, up from 494.77 yen. Revenue is expected to be 2.230 trillion yen up from 2.040 trillion yen previously projected.

The revision was due to market conditions in the dry bulk business, energy business, and chemical logistics business, which are above the expected levels.

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