JAPANESE manufacturers of mobile cranes continue to see their sales decline.
Tadano saw its sales fall 6.1% to ¥88.2bn ($706.8m) in the year to 31 March 2002 and operating profit fall 73% to ¥381m ($3m). Pre-tax profit droped 62.2% to ¥661m ($5.3m).
The deterioration in performance was attributed to declining global demand and increased price competition. For the year Tadano reported a massive net loss of ¥5.9bn ($47.3m) after ¥9.63bn ($77.2m) was written off.
For the current financial year Tadano is forecasting pre-tax profits of ¥1.9bn ($15.2m) on sales of ¥80bn ($641m).
Kato Works saw its sales fall 6.8% to ¥30.39bn ($243.6m) and operating profit fall 31% to ¥903m ($7.2m). Net profit was ¥101m ($800,000).
