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Daikin reports record 1st quarter

JAPAN: Daikin has reported record sales and profits for the first quarter of this year to June 30.

The Japanese air conditioning manufacturer saw sales grow 10% to JPY535.5bn (US$4.854bn) compared to the first quarter of 2016.

The Americas returned the best performance, benefiting from the increased production coming from its huge new Daikin Texas Technology Park and increases in the number of dealers and sales personnel. Sales of ductless VRF grew by 40% in the first quarter, but even traditional ducted equipment saw sales rise 16%. Applied sales also rose by 12%.

In Japan, sales expanded by 12% in both residential and commercial sectors, resulting in new record highs for both sales and operating income. Strengthening sales in the Tokyo metropolitan area helped Applied systems sales expand by 25%.

China also saw improved sales with double digit growth in residential (16%), commercial (13%) and applied (12%).

Commercial sales of SkyAir units expanded in all regions of Europe, Middle East and Africa, notably in Spain and the UK. Although residential sales grew in Spain and Central Europe, unseasonal weather caused a significant reversal for Italy.

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