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Ube Reports Rise in Profits and Sales

4:27 AM MDT | August 1, 2011 | Deepti Ramesh

Ube Industries reported nearly a tripling in net profits for the fiscal first quarter ended June 30, 2011, compared with the year-ago period, to ¥5 billion ($64.5 million). Sales increased 7%, to ¥149.4 billion. Ube’s chemicals and plastics segment recorded a 22.5% rise in first-quarter sales, to ¥53.4 billion, compared with the year-ago period. Operating profits for the segment reported more than an eight fold increase, to ¥6 billion. Sales of caprolactam were high due to strong demand in the Asian market, and the margins increased...

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