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Topy Industries' FY2010 Operating Profit Up Twentyfold To Y7,000M Plus
Japan's Topy Industries Ltd achieved operating profit growth by a factor of 20 to Y7,000 million plus in the electric steelmaker's consolidated earnings results for fiscal 2010 (April 2010-March 2011).

The company announced its consolidated results of Y221,413 million in sales for fiscal 2010, up 12.5% from a year ago; Y7,006 million in operating profit, up 1,873.5%; Y5,241 million in pretax profit, up 736.9%; and Y2,072 million in net profit, compared with a net loss of Y1,032 million in fiscal 2009. The ratio of pretax profit to sales stood at 2.3%, up from 0.3% in the year before.

Of the company's two main businesses, the steel division won an operating profit of Y2,694 million, while the auto/industrial machinery parts division garnered an operating profit of Y7,666 million. The ratio of operating profit to sales stood at 4.0% for the former division and at 5.5% for the latter.

The company is scheduled to pay a yearend dividend of Y4 per share for fiscal 2010, up from Y2 per share in the year before.

The company favors no disclosure so far on its group earnings prospects for fiscal 2012 on the argument that it is impossible to work out rational estimates under the existing circumstances.
last modified : Wed 18 May, 2011 [10:03]
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