27 April 2012 09:16 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Showa Denko said on Friday its first-quarter net profit doubled to yen (Y) 5.33bn ($65.8m) partly on the back of improved performance in the electronics segment as chemical earnings slumped.
This compares with a net profit of Y2.58bn in the same period a year earlier.
Showa Denko’s sales rose by 6% year on year to Y181.4bn in the first three months of 2012, while operating profit grew by 2% to Y9.54bn, the company said in a statement.
Operating profit at the firm’s petrochemical segment fell by 97% to Y73m in the first quarter, while sales declined by 20% to Y47.1bn, it said.
($1 = Y81)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections