Taiheiyo net profit down, revenues up

Taiheiyo net profit down, revenues up
Published: 17 May 2006

Taiheiyo Cement Corp, Japan, decreased net profit by 36.9 per cent to JPY9.1 billion for the year to March 31, 2006.  Revenue increased 3.9 per cent to JPY906.7 billion, operating profit rose 28.7 per cent to JPY62 billion and ordinary profit jumped 30.1 per cent to JPY49.8 billion.  Net assets per share increased from JPY253 to JPY288. Earnings per share dropped from JPY14.8 to JPY9.3. 
 
Cement sales increased domestically, as did in the United States, Vietnam and Philippines. The resource business was boosted by high demand, while the environment business benefited from increased orders for its industrial waste disposal operations. Retail expense cutbacks absorbed cost of goods sold increases, leading to strong profit level gains. Net profit however fell due to asset impairment and asset disposal losses. 
 
The company is expecting a net profit of JPY2.2 billion for the half-year to September 30, 2006. Revenue of JPY440 billion and an ordinary profit of JPY17.5 billion are forecast.  A net profit of JPY23 billion is projected for the year to March 31, 2007. Revenue of JPY915 billion and an ordinary profit of JPY57 billion are forecast.