Japan’s Mitsubishi Gas Chemical H1 net profit more than doubles

01 November 2013 09:23  [Source: ICIS news]

TOKYO (ICIS)--Mitsubishi Gas Chemical’s first-half net profit more than doubled to yen (Y) 18.6bn ($189m) from Y8.12bn in the same period last year, on the back of increased sales volume of products for semiconductors and liquid crystal display (LCD) panels, the Japanese producer said on Friday.

Its operating profit for the six months to 30 September 2013 surged to Y10.0bn from Y3.93bn, while net sales rose by 15% to Y266.6bn, the company said in a statement.

In the natural gas chemical segment, first-half ordinary profit rose by 66% year on year to Y10.9bn, with net sales rose 11% to Y90.0bn, on the back of improvement in the methanol market, it said.

Its aromatics segment swung to an ordinary profit of Y1.88bn from a loss of Y1.13bn in the same period in 2012, with net sales up by 18% to Y75.3bn partly on increased sales volume of purified isophthalic acid, Mitsubishi Gas Chemical said.

($1 = Y98.32)

By: Tomomi Yokomura
+65 6780 4359

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