Asahi Glass earnings fall on SKorea deconsolidation

Date: 22 November 2002
Source: Library Northernlight

Date: 22 November 2002

Asahi Glass Co Ltd said it posted a current profit (keijorieki) of 24.8 bln yen in the first half, compared with 35.9 bln yen a year earlier on the back of the deconsolidation of its South Korean affiliate.

It that added operating profits of all segments deteriorated. Net profit was 15.2 bln yen, compared with 13.6 bln yen a year earlier, and an operating profit was 28.7 bln compared with 44.3 bln yen. Revenue fell to 632.9 bln yen, compared with 645.8 bln yen a year earlier in the first-half.

For the year to March, the company maintained its earnings forecasts at a current profit of 52 bln yen, net profit of 31 bln yen, and revenue of 1.3 trln. The company had upgraded its full year earnings forecast on Oct 31. The company maintained its dividend payment at 4.50 yen.

600450 Asahi Glass earnings fall on SKorea deconsolidation glassonweb.com

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