Taiheiyo Cement full-year pretax profit seen beating estimates

Japan’s leading cement producer, Taiheiyo Cement Corp, is expected to have posted a 70 per cent YoY rise in pretax profit for the fiscal year to the end of March 2013.

Net profit is expected to have beat forecasts of JPY30.5bn to reach around JPY32bn, according to a Nikkei Report. Sales are believed to have increased by three per cent to approximately JPY750bn while volume grew at least five per cent with shipments to the Tohoku region for earthquake rebuilding topping estimates.

Operating profit likely soared almost 40 per cent YoY to roughly JPY40bn , with the advance amounting to around 50 per cent in the January-March quarter.

Lower coal prices  buoyed profit, and margins from overseas operations improved. Cement shipments in the US outpaced projections, while price increases took effect for the company’s South Korea affiliate.