Japan’s Sumitomo Osaka Cement cuts forecast

Japan’s Sumitomo Osaka Cement cuts forecast
Published: 02 November 2004

Cement maker Sumitomo Osaka Cement Corp said it has lowered its full year to March 2005 net profit forecast to 4.6bn yen from 5. 5bn due to the adverse impact of surging coal and crude oil prices, which pushed up its procurement costs. Sumitomo Osaka Cement also revised an earlier full year to March 2005 current profit forecast of 9.0 bln yen on revenue of 180.0bn down, to 11.4bn current profit, on revenue of 182.5bn.