Taiheiyo Cement records 32% net profit increase in 1QFY18-19

Taiheiyo Cement has announced a 5.9 per cent YoY increase in revenue to JPY211.34bn (US$1.9bn) in the first quarter of FY18-19 ended 30 June, compared with JPY199.61bn of the year-ago period. Operating profit advanced 10.3 per cent to JPY9.76bn from JPY8.85bn, while net profit surged 32.4 per cent to JPY6.13bn.

The company also released forecasts for the 1HFY18-19 and financial year ending March 2019, with revenue expected to reach JPY429bn and JPY888bn, respectively. Net profit is anticipated to hit JPY16bn in 1HFY18-19 and JPY42bn in the FY18-19.