Japan's Mitsui Chemicals H1 net profit swings to Y17.1bn

02 November 2010 04:51  [Source: ICIS news]

TOKYO (ICIS)--Japanese producer Mitsui Chemicals on Tuesday posted a first-half net profit of yen (Y) 17.1bn ($21.22m), reversing a net loss of Y31.4bn in the year-ago period, partly on increased sales volume of automotive-related products, the company said.

Operating profit for the six months to 30 September was Y17.4bn, swinging from an operating loss of Y19.0bn in the previous year, while sales were up 22% to Y672.8bn from Y549.9bn.

In the petrochemicals segment, first-half operating profit was Y6.2bn, swinging from an operating loss of Y6.7bn in the year-ago period, while sales were up 30% to Y211.2bn from Y162.3bn on higher sale prices of polyethylene (PE) and polypropylene (PP) due to increased feedstock costs, Mitsui Chemicals said.

($1 = Y80.58)

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By: Tomomi Yokomura
+65 6780 4359



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