Mitsui & Co. reports profit increase for H1
Japanese
trading company Mitsui & Co. has released its first half financial results. Accordingly, the company announced that its net profit grew by 4.2% in the first half of 2003.
The profit increase is in relation with revenue growth and improved equity portfolio management.
In the third quarter, company's net profit was up by 9% to Yen 25.8 billion while operating profit rose by 5.4% to Yen 50.1 billion.
Company's energy division's revenue amounted to Yen 652.6 billion, up by Yen 138.5 billion as a result of increased demand of liquefied natural gas.
The company expects a net profit of Yen 65 billion for the fiscal year ended on March 31, 2004. Futhermore, revenue is forecasted to reach to Yen 12.2 billion from Yen 11.5 billion.