Sumitomo Osaka Cement reports 40% increase in profit

Japan’s Sumitomo Osaka Cement has reported a 40 per cent YoY rise in net profit to JPY10.92bn (US$101.63m) for the fiscal year ending 31 March 2020, compared with JPY7.8bn in the FY18-19.

Sales were down 2.4 per cent to JPY245.1bn from JPY251.06bn, but operating profit advanced 13.8 per cent YoY to JPY16.1bn in the FY19-20.

The company’s profit was reportedly supported by its cement and building materials segments.