Kyushu Electric Power reported that current profit for its consolidated account for the year ended March 2008 plunged 39% from the previous year to 72.372 billion yen, despite a 5.3% rise in revenue to 1.482 trillion yen, a record high. Revenues rose due to growth in air conditioner use during the year, as well as the growth in large lot demand from the manufacturing industry. In contrast, soaring fuel prices caused the profit decline. Revenues have now risen for two consecutive years, while profits have fallen for three straight years.
- Local News
- Kyushu Electric Suffers Third Straight Profit Decline