Japan’s Sumitomo Osaka Cement has announced a 2.5 per cent YoY fall in net profit to JPY2.1bn (US$19.7m) for the quarter ending 30 June. Sales were down by 2.1 per cent to JPY58.9bn while pretax profit decreased 10.6 per cent to JPY3bn. However, operating profit saw a 3.5 per cent increase to JPY2.8bn.

The company has forecast a 53.9 per cent rise in net profit to JPY12bn for the full fiscal year ending March 2020. Sales are expected to advance 2.5 per cent to JPY257.4bn and pretax profit is expected to climb 15.2 per cent to JPY18.2bn.