07 November 2008 08:57 [Source: ICIS news]
TOKYO (ICIS news)--Daiichi Kasei, a Japanese chemical producer, has on Friday posted a 64% decline in its first-half net profits to yen (Y) 89m ($910,951) from a year earlier as feedstock costs soared, the company said.
Consolidated net sales for the six months ended 30 September decreased 14.7% to Y1.7bn.
Net sales of products for clothing applications were flat at Y141m due to sluggish business of apparel makers, the company said.
Sales of products for furniture, automotive and other applications stood at Y1.1bn given sharp decline in sales of leisure boats. Sales for furniture for the ?xml:namespace>
For the full-year ending March 2009, Daiichi Kasei forecasts a 67.3% on year decline in net profits to Y133m with net sales coming off 14.9% to Y3.3bn.
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