Japan's Mitsubishi Gas Chemical Q1 net profit nearly triples

01 August 2013 10:43  [Source: ICIS news]

TOKYO (ICIS)--Mitsubishi Gas Chemical’s first-quarter net profit nearly tripled to yen (Y) 11.8bn ($120m)from Y4.19bn in the same period a year earlier, the Japanese firm said on Thursday.

Operating profit in April-June 2013 grew more than six folds to Y6.85bn, while net sales rose by 13% to Y130.1bn, the company said in a statement.

Its natural gas segment generated an operating profit of Y900m, swinging from a loss of Y900m in the previous corresponding period, while net sales increased by 6.9% to Y43.7bn, it said.

This was partly due to  the strong methanol market in the June quarter and the depreciation of the Japanese yen, the company said.

In aromatics, operating profit stood at Y1.4bn, reversing a loss of Y400m in the same period last year, with net sales up 15% at Y37.4bn.

($1 = Y97.73)

By: Tomomi Yokomura
+65 6780 4359

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