Monomer sales boost Asahi Kasei Q1 chems profit

31 July 2007 08:50  [Source: ICIS news]

TOKYO (ICIS news)--Asahi Kasei on Tuesday more than doubled the first quarter operating income for its chemicals segment compared with the same time a year ago as sales of monomers including acrylonitrile (ACN) and adipic acid increased.

Strong demand overseas also boosted the segment’s operating income which jumped yen (Y) 17.2bn ($144.5m) for the three months ended 30 June, up from Y6.4bn the previous year, it said in a statement.

First-quarter net sales during the same period increased 14.9% to Y218.1bn, it added.

Asahi Kasei’s consolidated operating profit in the three months was Y25.9bn, up 69.4% from the same period a year ago. Net sales at the company rose 10.5% to Y385.2bn while net income achieved a 96.7% year-on-year increase to Y18.1bn.

The company’s fibres segment more than tripled its three-month operating income to Y1.7bn while net sales rose 22.9% to Y28.2bn.

Sales of polyurethane increased due to improved performance of the European and American subsidiaries as well as favourable overseas demand, Asahi Kasei said. Its recycled cellulose fibre product also had higher sales volume overseas, the company added.

($1=Y119.06)

By: Tomomi Yokomura
+65 6780 4359

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