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Idemitsu Kosan’s petchem business reports huge rise in profits

8:27 AM MDT | May 2, 2014 | Deepti Ramesh

The petrochemical business of Idemitsu Kosan reports that operating profits more than doubled for the fiscal year ended 31 March 2014 compared with the previous fiscal year, to ¥36.5 billion ($357 million), mainly because of better product margins, increased sales volumes, and higher selling prices for styrene monomers. Full-year sales for the petrochemical business increased 27.8%, to ¥675.1 billion. Idemitsu's total sales volume of petrochemical products increased by 15.6%, to 3.24 million m.t. Fourth-quarter figures have not been disclosed. During the...

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