Japan's Shin-Etsu Chemical 6-month net profit increases 9.1%

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 US and Europe, according to the statement.

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)

By: Tomomi Yokomura
+65 6780 4359

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