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Mitsubishi Chemical reports huge rise in profits

8:36 AM MDT | October 31, 2013 | Deepti Ramesh

Mitsubishi Chemical Holdings says net profits increased more than eightfold in its fiscal first half, ended 30 September, compared with the year-ago period, to ¥27.3 billion ($278 million). First-half sales increased 5.3%, to ¥1.61 trillion. Operating profits for the fiscal first half increased 25%, to ¥51.4 billion. During the first half of the fiscal year, demand for products in the company's performance products and industrial materials segments was weak in China and Europe as a result of the delayed economic recovery in these markets; demand in...

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