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Petrochemical Business of Idemitsu Kosan Reports Rise in Profits and Sales

8:23 AM MDT | November 1, 2011 | Deepti Ramesh

The petrochemical business of Idemitsu Kosan recorded a 10.5% increase in sales for the fiscal first half ended September 30, 2011 compared with the year-ago period, to ¥265.2 billion ($3.4 billion), due mainly to increases in selling prices. Operating profits for the segment increased 97%, to ¥7.5 billion, supported by better margins for para-xylene, reduced expenses and rationalization, Showa Denko says. These factors offset the decrease in sales volume and higher prices of feedstock. The growth in overseas demand for petrochemical products has been...

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