08 May 2012 07:58 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Nippon Shokubai on Tuesday posted a 0.7% year-on-year rise in its full-year net profit to yen (Y) 21.3bn ($266.6m) on the back of higher sales volumes and increased market prices, the company said.
The company’s overall sales rose 11% year on year to Y320.7bn in the full-year period ending 31 March 2012, while operating profit was up by 4.3% at Y31.1bn, the company said in a statement.
Full-year operating profit at the firm's basic chemicals segment fell by 4.3% year on year to Y13.4bn due to higher fixed costs, it said.
Meanwhile, the segment’s sales increased by 9.2% year on year to Y136.6bn , partly because of higher export prices of acrylic acid and acrylic ester, Nippon Shokubai added.
($1 = Y79.9)
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