Toagosei’s nine-month net profits fall 6%

27 October 2008 10:33  [Source: ICIS news]

TOKYO (ICIS news)--Toagosei’s net profits for the first nine months of 2008 decreased 6.1% year on year to yen (Y) 9.4bn ($101.6m), the fall attributed to high crude oil and naphtha prices, the Japanese chemicals producer said on Monday.

 

Consolidated net sales in the period ended 30 September rose 4.3% to Y124.9bn, from Y119.7bn, it added.

 

In the basic chemicals segment, the company’s nine-month net sales were up 3.3% year on year to Y41.3bn, the company said.

 

Toagosei forecast its consolidated net profits for the full year ending 31 December at Y5.8bn, a 21.6% decrease from the previous forecast of Y7.4bn made in February, while it now expected its net sales to total Y168bn, down 0.8% from Y166.6bn.

 

($1 = Y92.5)

 

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By: Tomomi Yokomura
+65 6780 4359

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