Koatsu Gas Kogyo has reported promising second quarter 2011 fiscal results.
Indeed, sales were up by 7.2% in comparison to the same quarter of the previous year. Net profit underwent the most significant increase, seeing a 63.6% rise against quarter two of 2010.
Meanwhile, operating profit rose by 49.9%, and ordinary profit increased almost as substantially, by 42.9%.
A segmented break-down of results showed that although sales of acetylene and the monetary value of the gas business decreased, sales of oxygen, nitrogen and argon all enjoyed a period of growth.
In light of these statistics, full time fiscal results have required adjustment. Accordingly, operating profit increased by 7%, to ¥3.4bn; while operating profit has been adjusted by 2.6%, to ¥3.8bn. Similarly, the firm expects net profit to also rise by 1.7%, reaching ¥2.1bn.
Whilst this bodes well, it is useful to reflect upon fiscal results prior to the financial crisis. Although 2011 finances are currently up on 2010, in comparison with fiscal results for the second quarter of 2009, they are yet to regain their territory.
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