Sumitomo Q1 profit decreases by 3.2 percent

Tuesday, 07 August 2007 15:02:09 (GMT+3)   |  
       

Japan-based Sumitomo Corporation has announced that its April-to-June 2007 quarter profit declined by 3.2 percent year on year due to losses arising from metals transactions.

The company announced that its net income declined to Yen 51.4 billion ($434 million) from Yen 53.1 billion ($447 million) in April-to-June period of 2006, whereas its sales rose by 11 percent to Yen 2.75 trillion ($2.3 billion) in the said quarter.


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