Japan's Showa Denko seen posting record net profit in 2006 - report |
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Thu, 18 Jan 2007 23:43
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TOKYO (XFN-ASIA) - Showa Denko KK is expected to report a record net profit of 27.5 bln yen in 2006, up 76 pct and higher than its own forecast of 26.5 bln yen, the Nikkei reported, without citing sources.Sales rose 12 pct to 910 bln yen, some 10 bln yen higher than the company forecast, thanks to strong sales of hard disks, as well as growing demand for synthetic-graphite electrodes from electric furnace steelmakers outside Japan, the business daily said.Operating profit is likely to have climbed 20 pct to around 68.5 bln yen, marking the second consecutive record, it said.Showa Denko is likely to raise its dividend for 2006 by one yen per share to 4 yen, the report said.For 2007, net profit is forecast to grow 16 pct to around 32 bln yen, and operating profit is expected to rise 7 pct to 73 bln on revenue of 950 bln, up some 4 pct, the report said.(1 usd = 121.23 yen)yasuhiko.seki@xfn.com
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