05 February 2007 09:52 [Source: ICIS news]
TOKYO (ICIS news)--Kureha posted a 5.5% increase in its nine-month operating income from the same period a year ago due to better demand for its performance resins, the Japanese chemicals firm said on Monday.
Operating income for the nine months ended 30 December 2006 rose to yen (Y) 7.7bn ($63.6m) from Y7.3bn in the same period a year earlier, it said in a statement.
Its sales increased 5% to Y100.1bn while net income was up 6.9% at Y4.2bn.
Kureha’s net sales for the performance products segment in the nine months rose 10.8%, or Y2.45bn, due to stronger demand for polyphenylene sulfide (PPS) and polyvinylidene fluoride, it said.
The company’s PPS joint venture in the US recorded strong performance and demand for carbon fibre also rose, it added.
Petrochemical products segment recorded a 2.6%, or Y609m, decline in its nine-month net sales as exports of metconazole, the company’s agricultural fungicide product, fell.
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