Tosoh revises down '02-03 op pft forecast 21% to Yen9.5bn

02 September 2002 08:11  [Source: ICIS news]

SINGAPORE (CNI)--Japanese petrochemical producer Tosoh Corp has revised down its H1 operating profit by 21% to 30 September 2002 on higher feedstock prices, lower profit margins due to the strengthening yen and slower sales of vinyl chloride monomer (VCM).

Tosoh is now projecting a group operating profit of Yen9.5bn ($80m/Euro81m), down from the original forecast of Yen12bn.

The company has cut its net profit forecast to zero from Yen2bn on sales of Yen225bn.

For the full fiscal year through to 31 March 2003, Tosoh expects operating profit to be short of its previous forecast by 16% to Yen27bn from Yen32bn.

By: Iqbal Anand
+65 6780 4359

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