Japan: Taiheiyo Cement recorded full-year consolidated net sales of US$7.89bn in its 2021 financial year to 31 March 2021, down by 2% year-on-year from US$8.07bn in the 2020 financial year. The group’s net profit rose by 20% to US$427m from US$357m. Domestic cement sales volumes fell by 4.8% to 13.8Mt and exports sales dropped by 2.2% to 3.8Mt. The cement producer attributed this to falling local demand for cement since June 2020 due to the suspension of construction work in response to the coronavirus pandemic. It also noted a shortage of construction workers.
Taiheiyo Cement’s full-year sales fall as profit grows in 2021 financial year
© 2021 Pro Global Media Ltd. All rights reserved.