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Showa Denko First-Half Profits Fall

2:12 AM MDT | August 8, 2008 | Deepti Ramesh

Showa Denko has recorded a 22% fall in net profits to ¥11.7 billion ($108 million) for the first-half of the fiscal year. And sales for the period increased by 5% to ¥511 billion. The petrochemicals segment reported an increase in sales of about 7% to ¥205 billion, largely because of the increase in prices of olefins, Showa Denko says. Operating income for the segment fell by 45% to ¥6 billion mainly because the export margins for olefins reduced and also because of the higher cost of methanol and weaker market price for acetic acid, Show Denko...

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