Japan’s Mitsubishi Gas full-year net profit jumps to Y19bn

09 May 2011 08:02  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Mitsubishi Gas Chemical (MGC) said on Monday its full-year net profit more than tripled to yen (Y) 19.0bn ($235.6m) from Y5.83bn the previous year due to an increase in overall sales volume and higher market prices of chemical products.

Its operating profit in the full year to 31 March 2011 soared to Y23.4bn from Y4.09bn the year before, while net sales were up 17% to Y451.0bn from Y384.5bn.

Its full-year operating profit in the functional chemicals segment rose 32% to Y15.1bn year on year partly due to increased sales volume of inorganic industrial chemicals, while net sales were up 13% to Y134.0bn, MGC said.

($1 = Y80.63)

By: Tomomi Yokomura
+65 6780 4359

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