"K" Line reported a 4-percent drop in net income for its fiscal
year
ending March 31, following adverse market changes in container and bulk
shipping.
Consolidated net income for the year was 1.6 billion yen ($13 million),
compared with Yen1.7 billion in the previous fiscal year.
Revenue increased marginally, to Yen525 billion ($4.36 billion), from
Yen524 billion.
"K" Line said that net results in its container shipping division
worsened because of the decline in Asia-bound volumes and falling freight
rates in its transpacific and Europe/Asia services.
The company’s car-carrier activities maintained the same profit results
as in the previous year, but results declined in its bulk shipping business.
"K" LINE’S NET INCOME RISES 4%
“K” LINE’S NET INCOME FALLS 4%
