ERJ staff report (DS)
Tokyo -- Tokai Rubber Industries made a small profit on sales down by over a quarter for the nine months to 31 December 2009, but expects profit for the full year to be higher than last year. The company said sales for the nine months reached yen 164 000 million (Euro 1302 million), down from yen 223 600 million a year earlier.
Ordinary profit was yen 4063 million (yen 32 million), down from yen 10 500 million, while net profit was just yen 283 million, compared with yen 4714 million a year ago.
The company revised upwards its forecasts for 12 months to March 2010, saying it now expects sales for the year to reach yen 230 000 million, compared with the previous forecast of yen 215 billion. this compares with sales for the most recent full year of yen 274 billion.
Tokai revised its forecast for ordinary profit to yen 6 billion, up from yen 1 billion, which will be a little higher than the 5.38 billion recorded in the full year 2009.
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Results statement from Tokai (Japanese language)
Results statement from Tokai auto-translated into English.