Kao Posts Earnings Increase
October 30th, 2008 at 12:12pm |
TOKYO — Kao Corp. reported first-half net profits this week that were up 10.5 percent year-on-year to 32.4 billion yen, or $304.4 million at average exchange.
Operating profits at the beauty, personal care and chemicals firm, which owns the John Frieda and Kanebo brands, dropped 1.5 percent to 54.7 billion yen, or $515.6 million, in the six-month period ended Sept. 30, while sales rose 0.5 percent to 657.9 billion yen, or $6.2 billion, coming in “slightly lower” than forecast in April, the company stated.
“Kao Group’s performance was impacted by increases in raw material prices exceeding its forecast and cooling consumer sentiment,”…
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