|The TEX Report Topics < Scrap & Pig Iron >|
|HOME >> Topics List >> May, 2011 >> 16 (Mon)|
|Tokyo Tekko's FY2010 Net Profit Down 82.3% To Y436M|
Japan's Tokyo Tekko Co incurred a fall of 82.3% to Y436 million as net profit in the electric steelmaker's consolidated earnings results for fiscal 2010 (April 2010-March 2011). Sales volumes of products increased, but their sales prices decreased whereby earnings deteriorated. Besides, the pretax profit declined sharply as an aftermath of advanced ferrous scrap costs.|
The company announced its consolidated results of Y43,845 million in sales for fiscal 2010, down 1.2% from a year ago; Y1,312 million in operating profit, down 75.0%; Y1,076 million in pretax profit, down 77.3%; and Y436 million in net profit, down 82.3%. The ratio of pretax profit to sales stood at 2.5%, way down from 10.7% in the year before.
The company is contemplating paying a yearend dividend of Y3 per share for fiscal 2010, thereby setting the annual dividend payout at Y5 per share, down from the previous one of Y10 per share.
For April-September 2011, the company estimates its group earnings results at Y25 billion in sales, up 20.2% from the same period of 2010; Y450 million in operating profit, up 8.6%; Y300 million in pretax profit, up 7.6%; and Y50 million in net profit, down 79.7%.
|last modified : Thu 19 May, 2011 [10:00]|