Sumitomo Osaka Cement posts 1QFY24-25 results

Sumitomo Osaka Cement has shared consolidated financial results for the first quarter of the FY24-25. The company reported a revenue of JPY53.23bn (US$354.8m) for the quarter ended 30 June 2024, representing a 0.9 per cent increase from the JPY52.77bn reported in the same period a year previous.  

Although sales volume of cement was down compared to the 1QFY23-24, the company has raised domestic sale prices in a response to rising costs.

Operating profit surged from JPY127m in the 1QFY23-24 to JPY1.26bn in the 1QFY24-25. Profit before tax saw a 45.6 per cent increase YoY from JPY1.36bn to JPY1.98bn in the 1QFY24-25. Net profit was at JPY686m, a decrease of 86.8 per cent YoY from JPY5.18bn.

The company expects revenues in the 1HFY24-25, ending 30 September 2024, to reach JPY111.82bn. It forecasts an operating profit of JPY3.6bn and a pretax profit of JPY3.7bn. Net profit is expected to come in at JPY2.4bn.

The results are based on Japanese accounting standards.