Japan’s Kaneka posts H1 net profit up by 59% on improved sales

28 October 2010 07:37  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Kaneka Corp posted a 58% increase in its first-half net profit to yen (Y) 6.29bn ($77m), up from Y3.99bn in the same period last year on improved sales, the company said on Thursday.

The company’s operating profit in the first six months of this year ending 30 September rose by 30% to Y10.4bn, up from Y8.02bn in the same year-ago period, while sales were up by 11% year on year to Y224.3bn, according to the statement.

In its chemicals segment, Kaneka’s first-half operating profit increased by 34% to Y697m on a year-on-year basis, while sales were up by 11% to Y42.8bn on the back of growth in its polyvinyl chloride (PVC) sales volume amid a recovery in demand in Japan and Asia, the statement said.

($1 = Y81.71)

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By: Tomomi Yokomura
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