Asian Chemical Companies Report Higher Profits and Sales

Most major Asian chemical manufacturers reported higher profits and sales for the quarter ended September 30, 2011. Companies say the strong financial performance was mainly a result of improving demand and higher selling prices. SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok) and LG Chem have, however, recorded falls in profits. Reliance Industries posted a 16% increase in net profits for its fiscal second quarter ended September 30, compared with the year-ago quarter, to Rs57 billion ($1.14 billion), on sales up 35%, to Rs807.9...

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