10 May 2012 08:39 [Source: ICIS news]
Operating profit for the full year to 31 March 2012 decreased 42% to Y130.6bn from Y226.5bn, while net sales were up 1.3% to Y3,208.2bn from Y3,166.8bn, the country’s largest chemical producer said in a statement.
In the chemicals segment under the industrial materials domain, full-year operating profit fell 72% year on year to Y14.8bn, while net sales rose 13% to Y1,007.5bn.
This was because of a drastic decrease in the sales volumes of basic petrochemicals due to the influence of the 11 March 2011 earthquake and a decline in demand.
However, sales of terephthalic acid considerably increased due to an upward trend in the market owing to rising feedstock prices, MCHC said.
($1 = Y80)
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