02 November 2012 07:07 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Daicel said on Friday its net profit rose by 25% year on year to yen (Y) 7.19bn ($89.7m) in the six months to 30 September this year, partly boosted by higher demand for purified terephthalic acid (PTA) and increased sales of engineering plastics.
The company's net sales rose by 5.4% year on year to Y177.3bn in the same period, while operating profit rose by 19% to Y13.6bn, Daicel said in a statement.
Its net sales from the synthetic resins segment rose by 5.6% year on year to Y70.4bn, as sales of engineering plastic rose on the back of a recovery in car production in Japan, it said.
However, the synthetic resins segment's operating profit fell by 5.7% year on year to Y6.25bn on the back of high feedstock costs, the company added.
($1 = Y80.2)
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