Sakura Rubber reports loss on higher sales

ERJ staff report (DS)

Tokyo

-- Sakura Rubber Co Ltd reported sales up by 12 percent for the 12

months ended 31 March, 2009, but the company expects sales for the

current year will be down by 14 percent. Sakura Rubber makes and sells

fire fighting hoses, aerospace products, and industrial rubber

products. It also has interests in insurance and real estate.

Sales

for the 12 months amounted to yen 8500 million (euro 65.7 million), up

by 12.4 percent on the previous year. The company expects sales in the

six months to 30 Sep 2009 to be down by just 0.4 percent on the 2008

figure, at yen 3370 million. Sales for the full year are expected to be

yen 7290 million, down by around 14.2 percent on the most recent year.

Following

the increase in sales, Sakura expects to report a positive operating

profit in each of the periods. In the most recent 12 months, operating

profit was yen 436 million, down from yen 512 million a year

previously. The forecast for the current year is yen 405 million, with

a profit of yen 162 million in the first half.

In terms of net

profit, Sakura recorded yen 136 million for the most recent year, down

from yen 261 million a year ago. The company expects a profit of yen 58

million in the first half, rising to yen 172 million for the full year

ended March 2010.

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Reuters report