Keihin Electric Express Railway Co. said Wednesday it registered record operating, pretax and net profits in the 2001 business year as a result of its efforts to improve management efficiency through outsourcing and spinoffs.
In the year to March 31, the major railway operator's group net profit jumped 56.8 percent to 7.04 billion yen, pretax profit soared 80 percent to 17.69 billion yen and operating profit grew 24.8 percent to 28.31 billion yen on operating revenues of 315.37 billion yen, down 1 percent.
Operating revenues shrank notably in the recreational service segment, down 3.1 percent, and the retail segment, falling 5.3 percent, due to sluggish personal spending, the company said.
For this business year, the company expects to again register record profits on a consolidated net and pretax basis, forecasting group net profits of 7.2 billion yen, and pretax profits of 17.8 billion yen on record operating revenues of 327 billion yen.