Shinagawa Refractories achieved 2.3% growth in Q1 2017

2017-08-08

Aug. 03, 2017 - Shinagawa Refractories Co., Ltd has announced results of first quarter 2017 (From April 1st to June 30th, 2017). Shinagawa achieved the total net sales of 24.311 billion yen, with an increase of 2.3% compared with the same period last year. Operating income increased to 1.473 billion yen, up 18.3% YoY. Ordinary income reached 1.612 billion yen, with an increase of 27.7% YoY.

In addition, the business results by segment are as follows:

Refractories and related products: net sales increased 3.2% year on year to 18,974 million yen, segment profit increased by 17.2% to 1.4 billion yen, due to expanding sales of ceramic fiber in Japan at subsidiaries.

Engineering: net sales were down 0.1% year on year to 4,780 million yen, segment profit increased by 167.0% to 101 million yen.

Others: net sales decreased by 5.8% from the same period of the previous year to 556 million yen, while segment profit decreased by 14.9% to 253 million yen.

Shinagawa forecast that net sales will grow 2.2% to 48.5 billion yen in the first half fiscal year, while net sales for full year will increase 1.7% to 102 billion yen.