Sumitomo First-Quarter Earnings Climb

Jackie Pucci Posted by Jackie Pucci|31 July 2015

Sumitomo Chemical said sales in its Health and Crop Sciences business increased sharply, bolstered by higher market prices and positive currency effects in the first quarter ended June 30.

Sales of the feed additive methionine rose sharply due to higher market prices. As a result, including the positive effect of the weaker yen, the segment’s sales increased by $66.4 million (¥8.2 billion) compared with the same period of the previous fiscal year, to $664 million (¥82.0 billion.)

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Operating income grew by $81 million (¥10.0 billion), to $130 million (¥16.1 billion).

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