06 November 2012 08:59 [Source: ICIS news]
TOKYO (ICIS)--Japanese refiner Idemitsu Kosan reported on Tuesday a 94% year-on-year decline in its six-month net profit to yen (Y) 2.45bn ($31m) because of weak demand for petrochemicals.
Net sales during the six months to 30 September 2012 dipped by 0.7% to Y2,052bn, with operating profit falling by 63% to Y27.9bn, Idemitsu Kosan said in a statement..
In the petrochemical segment, the company’s net sales decreased by 4.7% year on year to Y252.7bn on sluggish demand in China.
Operating profit for the segment for the period declined by 24% to Y5.7bn, the refiner said.
($1 = Y80.27)
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