Daikin reports record sales and profits in the first quarter to June 2018. The Japanese air conditioning and chemical manufacturer saw sales rise 12 percent to JPY 656.8 billion (USD 5.9 billion) compared to the same period last year. Profits were also up 12 percent to JPY 83.1 billion (USD 748 million).
AC sales were up 11 percent overall at JPY 595.1 billion (USD 5.4 billion). Europe and Oceania performed particularly well. Sales in Oceania increased 25 percent to JPY 18.3 billion (USD 164.6 million), while European AC sales were up by 22 percent to JPY 87.4 billion (USD 784 million). Political instability in the Middle East was blamed for a downturn in sales there of 8 percent to JPY 10.6 billion (USD 95 million).
Europe saw increases in sales of high value R32 equipment in both residential and commercial sectors.
An expanded sales network across Asia and Oceania is said to have led to the increase there. Top performers were Indonesia (+34%), Australia (+27%), and Thailand (+24%). – Cooling Post