18 May 2002 07:31 [Source: ICIS news]
SINGAPORE (CNI)—Japan’s Tosoh Corp has projected a 20-fold year-on-year increase in its consolidated net profit estimate to Yen9bn ($70m/Euro77m) for the year ending 31 March 2003.
Tosoh said it would improve its 2002-03 results on drastically reduced charges for pension payments and in anticipation of a market recovery for its products.
The Japanese petrochemical producer posted a consolidated net profit of Yen459m for its financial year to 31 March 2002.
Tosoh has projected an increase of 60% in its consolidated operating profit estimate for 2002-03 to Yen25bn from Yen15.63bn.
The company expects consolidated sales to rise 10% to Yen470bn from Yen427.28bn.
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