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Showa Denko Reports Huge Rise in Profits

7:56 AM MDT | November 1, 2011 | Deepti Ramesh

Showa Denko recorded more than a five-fold increase in net profits for the third quarter ended September 30, 2011, compared with the year-ago period, to ¥9.5 billion ($122 million). Sales increased 12.4%, to ¥225 billion. Net profits increased partly due to the decline in extraordinary losses, Showa Denko says. For the first nine months of 2011, Showa Denko reported an 86% rise in net profits, to ¥17.5 billion compared with the year-ago period and sales for the nine months increased nearly 10%, to ¥641.6 billion. Showa Denko’s petrochemicals...

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