Arab Today, arab today hitachi quarterly profit plunges 41
Last Updated : GMT 17:10:22
Arab Today, arab today
Arab Today, arab today

Hitachi quarterly profit plunges 41%

Arab Today, arab today

Arab Today, arab today Hitachi quarterly profit plunges 41%

Tokyo - AFP

Japan\'s Hitachi said Monday that its quarterly profit plunged 41 percent, pointing to weaker demand for construction machinery and automotive equipment for the hit to its earnings. The conglomerate, whose products range from diggers to nuclear reactors, said it earned 20.2 billion yen ($217.8 million) in its third quarter to December, down from 34.2 billion yen a year earlier. Sales slipped seven percent to 2.11 trillion yen, it said. For the nine months to December, Hitachi said net profit was down to 50.3 billion yen from 85.1 billion yen a year earlier. The company slashed its full-year to March net profit estimate by 50 billion yen to 150 billion yen on 8.9 trillion yen in revenue. Weakness in the construction equipment unit was largely due to \"lower sales of hydraulic excavators due to the impact of lower demand in China\", it said, as concerns remain over the strength of the world\'s second-biggest economy. But Hitachi said its power systems unit as well as social infrastructure and industrial systems division, which includes its elevator and escalator business, both saw a boost in sales. In October, Hitachi said it would buy British atomic power venture Horizon to expand its nuclear business overseas, as the Japanese remain wary about atomic power after the Fukushima disaster in 2011. The purchase price was 696 million pounds ($1.09 billion). Horizon planned to build two or three 1,300-megawatt-class reactors at each of two nuclear power stations in Britain and Hitachi will take over the task, the Japanese company said at the time.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hitachi quarterly profit plunges 41 Arab Today, arab today hitachi quarterly profit plunges 41

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hitachi quarterly profit plunges 41 Arab Today, arab today hitachi quarterly profit plunges 41

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday