23 April 2013 09:34 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Ube Industries has raised the forecast for its full-year net profit by 49% to yen (Y) 8.2bn ($82.5m) from the previous prediction, partly because its chemicals earnings improved due to the depreciation of yen, the company said on Tuesday.
Operating profit for the year ended 31 March is now expected to be Y29.9bn, up by 6.8% from the figure announced on 5 February, due to similar reasons, Ube Industries said in a statement.
However, its forecast for net sales was lowered from the previous figure by 0.3% to Y626.0bn.
The company did not state reasons for the lower net sales prediction.
($1 = Y99.41)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections