Japan's TonenGeneral posts 93% decline in Jan-Sept net profit

14 November 2012 08:51  [Source: ICIS news]

TOKYO (ICIS)--Japanese refiner TonenGeneral Sekiyu has on Wednesday posted a 93% decrease in its January-September net profit to yen (Y) 8.37bn ($105m) from the same period a year earlier, because of decreased profits in the oil and petrochemicals segments.

Net sales for the nine months to 30 September was up by 3.1% year on year at Y2,041.7bn, while operating profit fell by 97% to Y6.92bn, according to the refiner.

In the petrochemicals segment, nine-month operating profit decreased by 87% to Y922m from the previous year because the margins of basic chemical products fell due to the slow down of Japanese and overseas economy, TonenGeneral said.

Nine-month net sales in the petrochemicals segment rose by 18% to Y258.1bn from a year earlier, TonenGeneral added.

($1 = Y79.39)

By: Nurluqman Suratman

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