SUNBIZ

Narain Provides Local Perspective On NYK Results

Carpenters Shipping Limited said since it started representing Nippon Yusen Kaisha Line, otherwise known NYK, its trade has been increasing. Carpenters Shipping general manager Manikam Narain made these comments in
06 May 2015 09:18
Narain Provides Local Perspective On NYK Results

Carpenters Shipping Limited said since it started representing Nippon Yusen Kaisha Line, otherwise known NYK, its trade has been increasing.

Carpenters Shipping general manager Manikam Narain made these comments in light of the Japanese-based international shipping company posting its full-year profits for 2014.

While he was unable to say which areas Fiji and South Pacific trade contributed, he said the trade increases were a testament to the results.

Mr Narain said: “Ever since we took over South Pacific island representation of NYK, we have seen tremendous growth in Carpenters Shipping trade.

“It is evident in the arrival of new vessels specially chartered by the principal.

“Export and import capacity has been increasing since January of last year when we signed up with the principal.”

Carpenters Shipping took representation of NYK after termination of the Great Bali Service.

The service involved four international shipping companies two of which are handled by Carpenters Shipping, NYK and Kyowa Shipping Co. Limited.

 

2014 Results Ending March 31

Consolidated revenues for the fiscal year ended March 31, 2015 increased by ¥164.5 billion (F$2.79 bn) an increase of 7.4 per cent compared with the previous fiscal year.

Although costs and expenses increased by ¥136.1 billion (F$2.31 bn) year on year, an increase of 6.8 per cent.

Operating income increased by a significant ¥21.1 billion (F$360 million) year on year, an increase of 47.1 per cent.

And recurring profit also increased by ¥25.5 billion (F$430 million) year on year, an increase of 43.8 per cent.

Despite recording extraordinary losses including an antitrust law-related loss of ¥13.7 billion ($230.million) and expenses related with restructuring various businesses.

It also recorded extraordinary income from the sale of our holdings in the North American terminal business.

These and other factors resulted in a year-on-year increase in consolidated net income of ¥14.5 billion (F$250m), an increase of 44 per cent) meaning large increases in profit at each level of profit and loss.

 

Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: