Japan's Daicel posts 17% increase in Q1 net profit

02 August 2012 10:49  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Daicel Corp on Thursday reported a 17% increase in its first-quarter net profit to yen (Y) 3.80bn ($48m) from the same time a year ago partly on increased sales volume of purified terephthalic acid (PTA).

Operating profit in the three months to 30 June 2012 rose 7.5% year on year to Y6.52bn, while net sales were up 6.8% to Y88.0bn, Daicel said in a statement.

In the organic chemicals segment, net sales fell 9% year on year to Y18.4bn due to a decline in sales volume of some performance products, while operating profit decreased 43% to Y1.31bn, according to Daicel.

($1 = Y78.50)

By: Tomomi Yokomura
+65 6780 4359

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