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NYK follows downward trend

NYK follows downward trend

Tokyo: NYK has followed the same pattern as MOL and 'K" Line, announcing sharply reduced Q1 FY2006 results that it blames on 'soaring' bunker prices and lower-than-expected container freight-rate levels, and as a result revising downwards its full-year profit forecast. Net profit for the quarter fell 43.3% year-on-year to Y12.35bn, leading the previous forecast (May 12) for full-year consolidated earnings to be slashed 33% to Y59bn.  [04/08/06]

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