Japan: Sumitomo Osaka has blamed falling income from its cement business on rising coal prices. Its overall net sales rose by 2.5% year-on-year US$2.92bn the year to 31 March 2019 from US$2.24bn in the same period in 2018. It net income nearly halved to US$71.2m from US$134m. Despite national exports falling in the cement sector the company said that it was focusing on an overseas cement strategy.
Sumitomo Osaka’s results blighted by coal price
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