Central Glass Co Ltd reported a net profit for the half year to 30 September 2006 of JPY 5.13 billion, up 20.5% increase on the previous year, on revenue down 2% to JPY 93.29 billion.
Operating profi…
Central Glass Co Ltd reported a net profit for the half year to 30 September 2006 of JPY 5.13 billion, up 20.5% increase on the previous year, on revenue down 2% to JPY 93.29 billion. Operating profit was down 8.9% to JPY 7.92 billion and ordinary profit decreased 2.7% to JPY 8.58 billion. The interim dividend is JPY 6. The fall in revenue was due to weak sales of building glass as a result of stronger competition and a reduced product line. Unfavorable sales of fine glass for LCD and a drop in shipments of processed glass for the automobile industry by an overseas subsidiary contributed to the decrease. Rising raw material and energy costs hit both operating and ordinary profits. However, net profit increased due to a reduced extraordinary loss, compared with 2005 when the company posted allowance reserve for business restructuring as an extraordinary loss. The full year outlook is for a net profit of JPY 11.8 billion on JPY 193 billion in revenue, an operating profit of JPY 17.5 billion and an ordinary profit of JPY 18.5 billion. The end of year dividend is expected to be JPY 6.