Mitsubishi Rayon posts 14.7% jump in Q1 pft on higher sales

09 August 2005 02:14  [Source: ICIS news]

SINGAPORE (CNI)--Mitsubishi Rayon has recorded a 14.7% rise in first quarter operating profits due to stronger sales in its chemicals and plastics segment, the Japanese company said on Monday.

 

In the quarter ended 30 June, the company earned Yen8.7bn ($77.9m/Euro62.9m), up from Yen7.6bn in the corresponding period of 2004.

 

Total sales increased by 2.9% to Yen78.7bn and net profit rose 44.2% to Yen5.4bn. Sales of chemicals and plastics rose by 7.3% to Yen40bn, while the sales of carbon fibre composite materials and membranes rose 11.8% to Yen19.7bn.

 

For the financial year ending 31 March 2006, the company hopes to increase sales by 3% to Yen340bn, net profit by 31.6% to Yen19bn, and operating profit by 7.1% to Yen33bn from the last financial year.

By: Caroline Sin
+65 6780 4359

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