TOKYO (dpa-AFX) - Shin-Etsu Chemical Co., Ltd. (SHECF.PK, SHECY.PK), a Japanese chemical company, on Friday reported a decline in net profit for the first-half, mainly due to a temporary increase in tax expenses arising from the implementation of dividends from overseas subsidiaries starting this fiscal.
For six-month period to September 30, the company posted net profit of 294.117 billion yen or 147.68 yen per share, lesser than 301.439 billion yen or 149.52 yen per share, registered for the same period last year.
Income before income taxes and non-controlling interests was at 450.255 billion yen as against the previous year's 439.857 billion yen.
Operating income rose to 405.703 billion yen from 381.919 billion yen from a year ago.
Sales improved to 1.266 trillion yen from the previous year's 1.195 trillion yen.
Looking ahead, for the full year, the company still expects net profit of 533 billion, up 2.5 percent from last year, with income per share of 268 yen.
Full-year operating income still projected to be 735 billion yen, up 4.8 percent from last year.
Shin-Etsu continues to anticipate an improvement in annual sales by 3.5 percent to 2.500 trillion yen, year-on-year basis.
For the full year, the company still projects to pay total dividend of 106 yen per share, higher than previous year's 100 yen per share.
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