Taiheiyo Cement reports 35% 1H pretax profit rise

Taiheiyo Cement Corp has posted a 11.9 per cent rise in revenues to JPY421.94bn (US$3.72bn) in 1H17 from JPY376.93bn in 1H16.

Operating profit during the six months ending 30 September 2017 increased 31.8 percent YoY to JPY27.43bn while pretax profits rose 34.9 per cent from JPY20.81bn in 1H16 to JPY28.07bn in 1H17. However, the Japan-based cement producer’s net profit fell 48.7 per cent from JPY42.1bn to JPY16.93bn over the same period.

For the financial year ending March 2018, Taiheiyo Cement forecasts revenues of JPY865bn with an operating profit of JPY67bn. Pretax profit is projected to reach JPY65bn and net profit at JPY38bn.

Results are based on Japanese accounting standards.