Taiheiyo reports 14% rise in 1H net profit

Japan-based Taiheiyo Cement Corp saw a 3.2 per cent drop in its revenues to JPY420.63bn (US$4bn) in the first half of the FY20-21 from JPY431.39bn in the 1HFY19-20.

However, operating profit increased by 16.3 per cent to JPY26.13bn in the 1HFY20-12 from JPY22.46bn in the year-ago period while pretax profit increased 18.6 per cent to JPY26.64bn from JPY22.47bn over the same period. The company’s net profit advanced 14 per cent YoY to JPY18.46bn from JPY16.20bn.

The group expects to achieve a revenue of JPY867bn with operating and pretax profits of JPY63bn in FY20-21. It forecasts a net profit of JPY41bn by the end of the financial year, according to Dow Jones Institutional News.