Mitsubishi Heavy Industries Ltd. saw its operating profit surge 87% in the first half, driven by strong sales of gas turbines and defense equipment amid growing global energy and security demands.
Profit from business activities jumped to ¥188.4 billion ($1.3 billion) in the six months through September, compared with ¥100.9 billion a year earlier. Revenue rose 11% to ¥2.3 trillion, the Tokyo-based company said in a statement Tuesday.
The industrial conglomerate raised its full-year order intake forecast by ¥200 billion to ¥6 trillion, citing continued robust demand in its energy systems unit. The segment secured contracts for nine large gas turbines in the first half, with the strongest growth coming from the Americas.
Defense-related revenue showed particularly large gains in aircraft and missile systems, while the company’s commercial aviation business benefited from Boeing Co.’s increased 787 production rates and a weaker yen.
The machinery maker maintained its full-year profit forecast at ¥350 billion and kept its revenue target unchanged at ¥4.9 trillion. Chief Financial Officer Hisato Kozawa indicated the company aims to exceed the current profit guidance by continuing strong performance while controlling costs.
The company’s logistics systems unit saw lower profits due to fewer deliveries and supply chain disruptions affecting its turbocharger business. This led Mitsubishi Heavy to cut the segment’s full-year profit forecast by ¥20 billion to ¥60 billion.
