Sumitomo Profits Expected to Surge on Strong Specialty and Pharma Sales.(Brief Article)(Statistical Data Included)

Chemical Market Reporter, March, 2001 by MCPADDEN, MIKE

BENEFITING FROM strong sales in specialty chemicals and pharmaceuticals, Sumitomo Chemical, Japan's second largest chemical company, is expected to report a 70 percent year-over-year hike in group net profits to $274.4 million when the 2000-2001 fiscal year ends March 31, according to analysts. The company will not release or comment on its specific figures until the numbers are finalized this spring.

A Japanese financial analyst says he expects Sumitomo's specialty chemicals and pharmaceutical businesses to expand "a strong 15 to 20 percent," which will more than offset a 29 percent decline in profits from Sumitomo's petrochemicals division.

Income from the group's agrochemical and pharmaceutical businesses accounts for one quarter of the...

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