Yusen net profit falls 30.2pc to US$31.2 million despite 92.2pc sales gain
2012 05 07
- Details
JAPAN's Yusen Logistics posted a 30.2 per cent year on year net profit decline in fiscal 2011 to US$31.2 million, despite a 92.2 per cent increase in revenue, which produced a 26.8 per cent rise in operating profit to $77.4 million.
Blaming weak US and European demand, the logistics arm of Japanese shipping giant NYK said another factor was a slow down in Asian economies, as well as the Japan's earthquake and tsunami and floods in Thailand.
"Although volumes increased in some regions temporarily, due to demand related to recovery from the twin natural disasters in Japan and heavy floods in Thailand, the international logistics market was generally stagnant," said Yusen of severely disrupted supply chains.
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