Asahi Kasei, a Japanese chemical company also involved in apparel material, reported 5.3 per cent sales growth to ¥547.3 billion (Japanese yen) in its third quarter (Q3) FY20 ended on December 31, 2020, compared to ¥519.9 billion in same period last year. Company’s operating income for Q3 grew 36.8 per cent to ¥52.7 billion (Q3 FY19: ¥38.5 billion).
Asahi Kasei Corporation, a global Japanese chemical company, has reported 5.3 per cent sales growth to ¥547.3 billion (Japanese yen) in its third quarter (Q3) FY20 ended on December 31, 2020, compared to sales of ¥519.9 billion in same period last year. Company's operating income for Q3 grew 36.8 per cent to ¥52.7 billion (Q3 FY19: ¥38.5 billion).#
However, Year-on-Year (YoY) sales have slipped 3.3 per cent to ¥1,536.7 billion (¥1,588.5 billion). Gross profit for the nine-month period was ¥500.7 billion (¥509.3 billion). Selling, general and administrative expenses were slightly up to ¥371.2 billion (¥369.0 billion).
Sales of Material segment YoY decreased to ¥705.6 billion (¥835.9 billion). Whereas, homes segment sales were up to ¥512.3 billion (¥489.7 billion) and health care segment sales jumped to ¥307.9 billion (¥251.1 billion).
In its outlook for complete FY20, Asahi Kasei expects 2.8 per cent decrease in its sales to ¥2,091.0 billion compared to FY19.
Fibre2Fashion News Desk (JL)
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