NYK Line has described its full-year results for FY2023 as a “favourable start” for its medium-term management plan, despite the figure coming in nearly 80% down on a year ago.
The Japanese shipping giant said its net profit for the year was ¥228.6bn ($1.47bn) against the “record high” ¥1.01 trillion seen in the previous year.
“While revenues and profits declined over the previous fiscal year … recurring profit and net income for FY2023 came in at the third highest ever, demonstrating that we are steadily strengthening profitability as special factors such as logistics disruptions during the pandemic faded away,” NYK Line...
