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Showa Denko Reports Rise in Profits and Sales

6:25 AM MDT | August 2, 2011 | Deepti Ramesh

Showa Denko reported a 24.4% rise in net profits for its fiscal second quarter ended June 30, 2011, to ¥5.2 billion ($67.5 million), compared with the year-ago period. Second-quarter sales increased nearly 14%, to ¥223.5 billion. During the fiscal first half ended June 30, Showa Denko recorded an 8.4% rise in sales, to ¥416.5 billion, compared with the year-ago period. Net profits for the fiscal first half increased by only 1.4%, to ¥7.8 billion, due to the extraordinary losses incurred as a result of the earthquake and tsunami that hit Japan on...

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