Japan's Adeka posts 22% increase in Apr-Sept net profit

01 November 2012 05:56  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Adeka recorded a 22% increase in its six-month net profit to yen (Y) 2.41bn ($3.02m) from the same time a year earlier, partly due to robust automotive demand in North America, it said on Thursday.

Net sales for the six months ended 30 September 2012 increased by 3.5% year on year to Y88.5bn, while operating profit rose by 8.7% to Y4.71bn, the company said in a statement.

Net sales in the chemicals segment fell by 0.3% to Y60.2bn in April-September from the same period in the previous year, while operating profit declined by 15% to Y3.82bn, Adeka said.

This was partly because sales of basic chemicals were affected by high feedstock costs, the company added.

($1 = Y79.79)

By: Tomomi Yokomura
+65 6780 4359

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