Japan’s Ube Industries posts full-year net profit of Y17.3bn

11 May 2011 08:14  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemicals firm Ube Industries said on Wednesday its full-year net profit more than doubled to yen (Y) 17.3bn ($214.2m) from Y8.22bn a year earlier, supported by improved chemical and resin sales as well as a stronger global economy.

Operating profit for the full year ended 31 March 2011 rose by 61% to Y44.4bn from Y27.6bn a year earlier, while net sales rose by 12% to Y616.1bn from Y549.6bn a year earlier.

The full-year operating profit in its chemical and resins segment surged to Y20.0bn from Y4.7bn a year earlier, while net sales rose by 24% to Y204.5bn partly because of the strong demand and increased sales of caprolactam, polybutadiene rubber (BR) and nylon resins, Ube said.

($1 = Y80.75)

For more on caprolactam and polybutadiene rubber, visit ICIS chemical intelligence

By: Tomomi Yokomura
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