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Materials

AGC's profit seen surging 340% on Southeast Asian construction

Infrastructure boom propels Japanese company's recovery from COVID-19

An AGC plant in Thailand: demand for PVC is growing in Southeast Asia amid a flurry of infrastructure projects.

TOKYO -- Materials maker AGC is expected to have earned roughly 90 billion yen ($822 million) in group operating profit in the January-June half, logging around a 340% jump on the year largely driven by a rush of infrastructure projects in Southeast Asia.

Sales likely rose 24% to about 810 billion yen. The Tokyo-based company would outperform its profit and sales forecast, which was just upgraded in April, by 5 billion yen and 10 billion yen, as well as its performance in the first half of 2019, before the coronavirus spread across the world.

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