Japan's Tosoh records 9-month petchem op profit of Y5.16bn

03 February 2010 08:28  [Source: ICIS news]

TOKYO (ICIS news)--Tosoh Corp has posted a nine-month operating profit of Y5.16bn in its petrochemical segment for the period ending 31 December 2009, up from Y832m in the year-ago period on increased cumene shipments, it said on Wednesday.

Shipments of ethylene and propylene decreased, while shipments of cumene increased due to the capacity expansion of its manufacturing plant in the previous year, the Japanese chemicals producer said.

The plant also did not have to shut down for maintenance in 2009, which allowed it to produce at full capacity during the period, Tosoh added.

Net sales in the segment decreased 32% to 121.4bn from Y178.7bn, it said.

During this period, the company incurred a net loss of Y4.25bn ($47m) an improvement on the net loss of Y13bn that it suffered in the nine months ended December 2008.

Operating profits for the period stood at Y3.8bn against a loss of Y7.36bn in the year-ago period on decreased fixed expenses, it added.

Nine-month net sales decreased 24% to Y453.5bn from Y594.6bn year on year due to declined products’ prices in Japan and overseas, Tosoh said.

($1 = Y90.48)

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By: Tomomi Yokomura
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