TOKYO (dpa-AFX) - Sumitomo Chemical Co., Ltd. (SOMMF, 4005.T). a petrochemical and energy products producer, reported profit for the second quarter (Interim period) compared to loss last year.
On the Tokyo Stock Exchange, shares were trading 5.34 percent down at 429.40 yen.
The company's net income attributable to owners of the parent was 39.70 billion yen compared with a loss of 6.53 billion yen last year.
Sumitomo's net income was reported at 90.93 billion yen versus a net loss of 20.29 billion yen the prior year.
The chemical company's earnings per share were 24.26 yen from a loss of 3.99 yen a year ago.
Japan-based company's sales revenue, however, declined to 1.10 trillion yen from last year of 1.24 trillion yen.
For the full year, Sumitomo expects profit attributable to owners of the parent to be up by 16.6% to 45 billion yen from 40 billion yen the prior year.
The firm now expects basic earnings per share to go up to 27.50 yen from 24.44 yen from last year.
Operating income is expected to be up 17.1 percent to 160 billion yen from 105 billion yen. Revenue estimated to be down by 12.1% to 2.29 trillion yen from 2.34 trillion yen of last year.
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