Sumitomo Osaka Cement posts mixed results for 1HFY24-25

Sumitomo Osaka Cement Co Ltd posted mixed results for 1HFY24-25, with net sales declining 1.1 per cent to JPY108.61bn (US$705.53m) amid weaker domestic cement demand. However, operating income rose 24.0 per cent to JPY2.28bn, driven by improved production efficiencies.

Ordinary income dropped 20.6 per cent to JPY2.12bn, while net income fell sharply by 84 per cent to JPY943m, impacted by rising input costs and adverse exchange rates.

Total assets edged up to JPY358.33bn, with a slight dip in the equity ratio to 52.4 per cent. Dividend guidance remains steady at JPY120/share for FY24-25.

The company projects a 0.6 per cent rise in full-year net sales to JPY223.8bn but anticipates a 49.2 per cent drop in net income to JPY7.8bn due to persistent cost pressures.