02 August 2012 08:51 [Source: ICIS news]
TOKYO (ICIS)--Japanese trading firm Mitsui & Co recorded on Thursday a 77% year-on-year decline in its first-quarter net profit to yen (Y) 1.1bn ($14.0m) in its chemicals segment, with gross profit down by 27%.
The chemicals segment’s gross profit during the three months to 30 June 2012 declined to Y14.6bn, mainly due to underperforming trading activities in petrochemical materials and decreased sales volumes, the company said in a statement.
The segment posted an operating loss of Y200m, compared with an operating profit of Y5.9bn in the same period a year earlier.
Mitsui & Co’s overall net profit fell by 21% year on year to Y104.4bn, while operating profit was down by 19% year on year to Y72.0bn.
The company’s overall gross profit fell by 7% year on year to Y201.9bn.
($1 = Y78.50)
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