Komatsu H1 profit jumps, raises outlook

TOKYO, Oct 28 (BestGrowthStock) – Japan’s Komatsu Ltd (6301.T: )
reported a more than five times increase in six-month operating
profit on strong demand from emerging markets for its
construction machinery, and raised its full-year outlook.

Komatsu, the world’s No. 2 construction machinery maker after
Caterpillar Inc (CAT.N: ), turned an operating profit of 103.91
billion yen ($1.27 billion) in the April-September period,
compared with a 19.7 billion yen profit a year earlier.

The Tokyo-based company increased its forecast to 200 billion
yen from 179 billion yen for the year to March.

The outlook is higher than a consensus forecast of 184.7
billion yen in a poll of 19 analysts by Thomson Reuters I/B/E/S.

Komatsu and its rivals have been cashing in on surging demand
for excavators and other earth-moving equipment, helped by
spending on housing infrastructure projects in emerging
countries.
(Reporting by Nobuhiro Kubo; Editing by Chris Gallagher)

Komatsu H1 profit jumps, raises outlook