09 May 2012 07:44 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Mitsubishi Gas Chemical (MGC) on Wednesday posted a 35% decrease in its 2011 full-year net profit to yen (Y) 12.3bn ($154.2m), partly because of a decrease in the sales volumes of many of its segments.
Operating profit for the full year ended 31 March 2012 fell by 61% year on year to Y9.08bn from Y23.4bn, while net sales was up by 0.3% at Y452.2bn compared with Y451.0bn a year earlier.
The full-year operating profit of its performance chemicals segment halved to Y7.5bn from the previous year, while net sales declined by 9.7% to Y121.0bn, partly because of the lower sales volumes of industrial chemicals and weak domestic demand for polycarbonate (PC), the producer said.
($1 = Y79.8)
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