Thecompany reckons it can do better on the back of improving tanker markets andexchange rates for the Yen. It sees operating profits for the year hitting JPY1.6bn, up from a previous forecast of JPY 1.4bn on the back of a 4% rise inrevenues to JPY12.7bn.
Kyoeiupped its forecast after reporting better nine month figures including a 64%improvement in operating profits to JPY 1.3bn after revenues rose 15% to JPY 9.3bn.
However,its net income has slipped at the same time to JPY 427m, from JPY 589m a yearago.
Kyoei owns five VLCCs and the same number of producttankers, comprising two each of LR2 and MR vessels and one LPG carrier. It also has four panamax dry bulkers.
