25 October 2012 08:30 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Shin-Etsu Chemical has posted a 9.1% increase in its six-month net profit to yen (Y) 55.7bn ($698m) from the same period a year earlier, the company said in a statement on Thursday.
The increase was supported by high levels of polyvinyl chloride (PVC) shipments in the ?xml:namespace>
Operating profit for the six months to 30 September 2012 rose by 4.0% year on year to Y83.6bn, while net sales increased by 3.0% to Y537.0bn.
In the PVC-Chlor alkali segment, six-month operating profit was up by 81% to Y24.2bn from the previous year, while net sales increased by 12% to Y178.5bn.
However, despite the strong performance at subsidiaries Shintech in the US and Shin-Etsu PVC in Netherlands, PVC-Chlor alkali business in Japan suffered because of a decrease in demand and an increase in feedstock costs, Shin-Etsu said.($1 = Y79.77)
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