Kito Corporation, Japan’s leading manufacturer of hoists and chain blocks, has reported a 6.5% drop in sales for the six months to 30 September 2002.
Kito sales for the first half of this financial year were Yen 10.37bn ($84.5m), compared with Yen 11.09bn ($90.4m) for the same period last year.
Operating profit was down 36% to Yen 446m ($3.6m) and net profit was down 33% to Yen 156m ($1.3m).
However, for the full year Kito is forecasting a return to net profit. It expects to make Yen 390m ($3.2m) for the full year, having made a net loss of Yen 1.22bn ($9.9m) last year.
