Japan's Itochu fiscal Q3 chemicals segment net profit rises 27%

02 February 2011 09:29  [Source: ICIS news]

TOKYO (ICIS)--Itochu's fiscal third-quarter chemicals segment net profit rose 27% to yen (Y) 4.2bn ($51.6m) from Y3.3bn in the same period a year earlier on the back of a rise in operating profit, the Japanese trading firm said on Wednesday.

Operating profit in the chemicals, forest products and general merchandise segment during the three months from 1 October to 31 December 2010 was Y9.81bn, up 14% from the same time a year earlier.

Total trading transactions in the segment rose 12% to Y533.0bn year on year, according to Itochu.

At group level, Itochu's third-quarter net profit increased 68% to Y42.4bn compared with the corresponding period the previous year, while operating profit was up 61% at Y63.2bn.

The company’s revenues totaled Y918.9bn during the three months, a 6.5% increase from the third quarter a year ago.

($1 = Y81.4)

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By: Tomomi Yokomura
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