Kaneka's profit falls on lower sales

摘要

Kaneka(Osaka,Japan)reports net profit for the fiscal first half ended 30 September decreased 59% to ￥2.4 billion($23.6 million),compared with ￥6.0 billion in the corresponding period a year earlier.Net sales were down 11.1% year on year(YOY)to ￥266.7 billion.Operating income plunged 45% to ￥7.0 billion,compared with ￥12.8 billion in the year-earlier quarter.The company's material solutions unit's operating profit declined 2% YOY to ￥4.5 billion on sales of ￥55.5 billion,down 7.7% YOY.Sales of polyvinyl chloride(PVC)resins grew in India and China after lockdowns were lifted.Shipments of chlorinated PVC(CPVC)also began.Emulsion PVC for hygiene gloves performed well,with the company's Malaysian plant operating at full capacity.