Iino sees earnings slip in year to 31 March

Japan’s Iino Kaiun is predicting better things this year after it posted an annual profit drop.

The tanker and bulker owner said net earnings in the year to 31 March were JPY 3.65bn ($33.72m), compared to JPY 5.21m a year ago.

Revenue fell to JPY 95bn against JPY 100bn.

But for the current year, it is forecasting an improvement in its margins, with profit projected to be JPY 4.7bn