01 November 2013 07:40 [Source: ICIS news]
TOKYO (ICIS)-- Japanese chemical producer Tosoh Corp swung to a first-half net profit of yen (Y) 14.1bn ($143.4m) from a loss of Y310m in the same period a year earlier, the company said on Friday.
This was primarily due to an increase in sales volume and improved trading conditions, the company added.
Its operating profit in the six months to 30 September 2013 soared to Y18.3bn from Y4.82bn a year before, while its net sales rose by 17% to Y365.7bn, the producer said in a statement.
In the petrochemical segment, its first-half operating profit doubled to Y6.62bn, backed by a 23% increase in net sales to Y109.8bn, partly on increased production of olefins, Tosoh said.
The chlor-alkali segment recorded an operating profit of Y838m, swinging from a loss of Y5.07bn the previous year, while its net sales increased by 26% to Y134.7bn, primarily because of increased shipments of vinyl chloride monomer (VCM) and polyvinyl chloride (PVC), the company said.
($1 = Y98.32)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections