Asahi Glass Reports Small Group Net Profit Fall

Date: 28 August 2006

Source: Asahi Glass Co.

Date: 28 August 2006

Asahi Glass Co. net profit in the first half of this year dropped 5.4 percent from a year earlier to 42.51 billion yen due to an extraordinary loss, while overall sales rose 8.6 percent to 788.59 billion yen.

The company booked an extraordinary loss of 16.6 billion yen stemming from the suspension of operation of some furnaces for cathode-ray tube glass due to weakening demand. Consolidated pretax profit increased 4.0 percent to 65.37 billion yen.

The electronics and display division, which produces flat-panel display and CRT glass as well as some other electronic materials, expanded sales 15.5 percent and operating profit 39.8 percent, despite weak demand for CRT glass.

For the whole of this year, Asahi Glass said it expects group net profit to rise 33.3 percent from the previous year to 80 billion yen on 1.6 trillion yen in sales, up 4.8 percent.

Click on th following link to download the entire report:
Consolidated Financial Results for the First Half FY2006 [.PDF]