Mitsubishi Gas Chemical's nine-month net profit jumps to Y13bn

01 February 2011 07:04  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Mitsubishi Gas Chemical (MGC) said on Tuesday it earned a nine-month net profit of yen (Y) 13bn ($159m) on increased overall sales volumes and higher prices of chemical products.

Its nine-month net profit in 2009 was Y527m.

Its operating profit from 1 April to 31 December 2010 soared to Y19.9bn while net sales rose 22% to Y341.5bn from Y279.3bn, according to MGC.

The producer’s nine-month operating profit in the performance chemicals segment was Y13.7bn, a 97% increase from Y6.95bn year on year, while net sales were up 19% to Y104.1bn from Y87.4bn due to improved sales of hydrogen peroxide and polyacetal (POM), the company said.

($1 = Y82)

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By: Tomomi Yokomura
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