Sales down, but profits up for Zeon in Q1

ERJ staff report (DS)

Tokyo - Zeon Corp has reported a decrease in sales, but higher profits in the three months to 30 June 2011. The company said sales were yen 66 730 million (euro 607 million), down 1.3 percent on the same period a year ago. Operating income rose by 13 percent, to yen 11 825 million, while net income jumped 62 percent, to yen 7081 million.

The company said full-year sales are expected to reach yen 283 000 million, an increase of 4.7 percent on the 2011 figure. It also forecast a slight decrease in full-year operating profits, but said net profits for the 12 months to March 2012 would increase by 9.3 percent to yen 20 000 million.

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Press release from Zeon