Ube’s nine-month operating income rises 22.5%

07 February 2008 08:45  [Source: ICIS news]

TOKYO (ICIS news)--Japan's Ube Industries posted a 22.5% year-on-year rise in its nine-month operating income on Thursday partly due to increased selling prices in the chemicals and plastics segment.

Consolidated operating income for the nine months ended 31 December was yen (Y) 38.6bn ($362.2m), up from Y31.5bn in the year-ago period. Net sales increased 7.1% to Y514.4bn, while net income was up 10.5% at Y16.8bn.

The chemicals and plastics segment performance was supported by increased selling prices of caprolactam, ammonium sulphate, nylon resin and industrial chemicals, Ube said.

Demand for ammonium sulphate, a by-product of caprolactam, from crops used for bioethanol production was growing, it added.

As a result, the chemicals and plastics segment’s nine-month operating income increased nearly 44% to Y11.8bn, while its net sales were 11.1% higher at Y170.5bn.

In the functional products and fine chemicals segment, sales of polyimide products were sluggish, impacted by inventory adjustments by the flat panel display (FPD) producers, Ube said.

However, sales of other products including lithium ion electrolysis solution and separator as well as gas separation membrane increased, it added.

The segment’s nine-month operating income rose 15.8% to Y9.5bn, while its net sales were 6.5% higher at Y69.1bn.

($1 = Y106.54)

By: Tomomi Yokomura
+65 6780 4359

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