The unaudited preliminary results show net sales in the year to March 31 2011 up 17.4% to ¥28.09bn. Net income rose 245.2% to ¥423m from ¥122m in 2010.
Cash flow from operating activities in 2011 were ¥1.9bn, down from ¥2.1bn in 2010. The company increased its investment activities, making investments of ¥1.98bn in the year to March 2011, up from ¥594m the previous year. These investments included the purchase of Indian crane and hoist manufacturer Armsel MHE, completed in October 2010.
As well as the results summary, Kito released a notice of difference between its actual performance and forecasts made on 2 November 2010. The company said non-consolidated ordinary and net income were boosted by dividends received from its subsidiary Kito Canada Inc., which performed well.
