Taiheiyo sees 7% drop in 1H net profits

Taiheiyo Cement reported a 1.7 per cent decline in group revenues to JPY431.39bn (US$3.95bn) in the first half of FY19-20 (ended 30 September 2019) from JPY438.7bn in 1HFY18-19.

The company’s operating profit decreased 18 per cent to JPY22.46bn YoY while pretax profit fell 17.1 per cent to JPY22.47bn over the period when compared with April-September 2018.

Net profits edged down by 6.6 per cent to JPY16.2bn in the 1HFY19-20 from JPY17.34bn in the year-ago period.