Dowa Holdings pretax profit likely jumped 28% in fiscal 2013
TOKYO -- Nonferrous-metal giant Dowa Holdings Co. likely generated a group pretax profit of 35 billion yen ($333 million) for the year ended Monday, up 28% on the year.
This topped the projected 21% rise to 33 billion yen. Earnings growth in the environmental and recycling business, mainly in Southeast Asia, drove the result.
Sales are estimated at some 430 billion yen, a 3% gain on the year and 4 billion yen better than projected. As oil field development expands in Southeast Asia, the company processed more sludge waste from drilling in Indonesia.
Thanks to a weaker yen, the export profitability of metal refining improved. Amid growing auto production worldwide, zinc alloys for related applications fared well.
In smartphone-related operations, demand for sensors grew. Silver powder for solar panels also logged a solid performance.
Operating profit likely rose 34% to 33 billion yen, up 2.5 billion yen from the projection. Profit in the environmental and recycling business apparently jumped 40% or so, to a little more than 9 billion yen.