Mitsubishi Heavy Industries (MHI) swings to net profit in H1 on higher sales

Japanese supplier adjusts full-year FY2017/18 forecasts

Mitsubishi Heavy Industries (MHI) has reported net profit of JPY13.5 billion (USD119.9 million as one 30 September 2017) in the first half of the financial year (FY) 2017/18, ended 30 September 2017, compared to net loss of JPY18.9 billion a year earlier, the Japanese supplier said in a press release. The company turned around its net profit, thanks to 4.3% year-over-year (y/y) increase in net sales to JPY1.8 trillion. MHI’s operating income, however, dropped slightly (0.5% y/y) to JPY38.2 billion.