Sumitomo Osaka Cement sees 4% revenue rise in FY17-18

Japan-based Sumitomo Osaka Cement Co reported a 4.4 per cent rise in group revenues to JPY244.93bn (US$2.23bn) for FY17-18 ending March 2018 from JPY234.06bn in the previous financial year.

Operating profit fell -11.8 per cent from JPY21.53bn in FY16-17 to JPY18.99bn in FY17-18 while pretax profit slipped 9.6 per cent to JPY20.15bn from JPY22.63bn in the same period. The company’s net profit was 9.6 per cent lower at JPY14.66bn in FY17-18 from JPY16.21bn in FY16-17.

Sumitomo Osaka Cement Co expects revenues to reach JPY123.3bn in the first half to September 2018 and close at JPY255bn for the year ending March 2019. Net profits are forecast around JPY5.08bn for the 1HFY18-19 and JPY16.21bn for FY18-19.