Japan's Tosoh nine-month net profit up by fourfold on higher sales

03 February 2014 08:00  [Source: ICIS news]

US December ethylene fully settled up 4.3% on higher spot pricesTOKYO (ICIS)--Japanese chemical producer Tosoh Corp on Monday posted a fourfold increase in its nine-month net profit to yen (Y) 22.7bn from Y5.5bn year earlier amid a rise in sales volume.

The company’s operating profit inApril-December 2013 surged to Y28.9bn from Y11.8bn previous year, while net sales rose by 18% to Y560.5bn, it said in a statement.

In the petrochemicals segment, operating profit surged by 57% to Y11.3bn, with net sales up 23% to Y31.7bn, due partly to increased shipments of olefins, Tosoh said.

Operating profit in the chlor-alkali segment stood at Y2.54bn, compared with an operating loss of Y4.74bn from a year earlier, while net sales was up by 25% at Y207.6bn.

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
By: Tomomi Yokomura
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