TOKYO (dpa-AFX) - Japan's Mitsubishi Chemical Group (MTLHF.PK) reported Friday sharply lower profit and sales revenues in its first quarter. Further, the company sees significantly higher net profit, but lower sales revenue in first half and fiscal 2025.
In Tokyo, Mitsubishi Chemical shares were trading at 796.00 yen, down 3.77 percent.
In the first quarter, net income attributable to owners of the parent fell 50.5 percent to 19.63 billion yen from last year's 39.65 billion yen. Earnings per share were 13.95 yen, compared to 27.85 yen a year ago.
Core Operating income dropped 11.1 percent year-over-year to 56.56 billion yen. Sales Revenue was 880.65 billion yen, down 13.4 percent from last year's 1.02 trillion yen.
Looking ahead for the first half, the company expects attributable profit of 130 billion yen or 91.34 yen per share, a growth of 217.7 percent from last year; core operating income of 121 billion yen, down 6.5 percent, and sales revenues of 1.80 trillion yen, down 10.3 percent from the prior year.
For fiscal 2025, the company continues to expect attributable profit of 145 billion yen or 101.88 yen per share, a growth of 222.1 percent from last year; core operating income of 265 billion yen, up 15.8 percent, and sales revenues of 3.74 trillion yen, down 5.3 percent from the prior year.
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