Japan's JX Holdings H1 net profit falls 79%, net sales up 2.2%

05 November 2012 05:58  [Source: ICIS news]

TOKYO (ICIS)--Japanese refiner JX Holdings reported on Monday a 79% year-on-year decline in its first-half net profit to yen (Y) 26.8bn ($333m), partly on lower prices of domestic petroleum products.

But net sales in the six months to 30 September 2012 was up by 2.2% year on year at Y5,189bn, while operating profit fell by 81% to Y37.4bn, JX Holdings said in a statement.

In the petroleum refining and marketing segment, April-September 2012 net sales rose by 4.3% to Y4,468bn.

The segment incurred an ordinary loss of Y9.58bn for the period, a reversal of the Y142.5bn profit made in the same period last year, as market prices of paraxylene (PX) – JX’s main petrochemical product – had deteriorated, the company said.

($1 = Y80.44)

By: Tomomi Yokomura
+65 6780 4359

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