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DIC reports fall in profits

10:43 AM MDT | August 7, 2013 | Deepti Ramesh

DIC (Tokyo) reports a 24.4% fall in net profits for its fiscal first quarter, ended 30 June, compared with the year-ago period, to ¥4.66 billion ($48 million). First-quarter sales increased 5.9%, to ¥186.5 billion, mainly because of the depreciation of the Japanese currency against other currencies, DIC says. Operating profits increased 7.2%, to ¥10.37 billion, bolstered by sales-price revisions, rationalization measures, and the weaker Japanese currency, DIC says. Economic sluggishness in Europe provoked by the ongoing debt crisis, and...

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