Japan's Ube Industries H1 net profit falls 31%, sales slip 0.3%

02 November 2012 09:29  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Ube Industries said on Friday its April-September net profit fell by 31% year on year to yen (Y) 8.46bn ($105m), partly on lower spread between caprolactam selling prices and the costs of its feedstocks.

Net sales for the six months to 30 September 2012 was down by 0.3% to Y310.8bn, while operating profit declined by 29% to Y16.2bn, the company said in a statement.

In the chemicals and plastics segment, net sales were down by 5.1% year on year to Y109.3bn because of lower selling prices of caprolactam.

The segment generated an operating profit of Y3.8bn, 72% lower year on year, the company said.

 ($1 = Y80.20)

By: Tomomi Yokomura
+65 6780 4359

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