Toagosei’s H1 net income falls 26% on high costs

07 August 2008 10:02  [Source: ICIS news]

TOKYO (ICIS news)--Japanese chemical producer Toagosei’s first-half net income decreased 26% to yen (Y) 2.8bn ($25.5m), from Y3.8bn year on year owing partly to high feedstock costs, the company said on Thursday.

 

Net sales during the six months ended 30 June were Y81.5bn, up 3% from Y79.1bn the previous year, it added.

 

In the basic chemicals segment, first-half net sales rose 1.8% to Y27bn, from Y26.5bn in the year earlier period partly due to an increase in the shipments of caustic soda and increased demand for caustic potash, the firm said.

 

Toagosei did not revise its forecast for the full year ending 31 December.

 

($1 = Y109.6)

By: Tomomi Yokomura
+65 6780 4359

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