AGC Inc. (ASGLF), a glass manufacturing company, Friday reported profit before tax of 33.751 billion yen for the first half, compared with loss before tax of 92.388 billion yen in the comparable period last year.
In the previous-year period, the company had recorded one-time expenses including impairment losses of 119.182 billion and loss on sale of shares of subsidiaries and associates of 36.482 billion.
Operating profit declined 4.7% to 54.022 billion yen from 56.690 billion yen a year ago.
The company posted net profit of 13.905 billion yen or 65.48 yen per share compared with net loss of 114.5 billion yen or 540.26 yen per share last year.
Net sales declined 1.9% to 995.474 billion yen from 1,015.195 billion yen in the previous year.
For the full year, AGC expects net sales to decline 0.9% to 2,050 billion yen. Net profit is expected at 57 billion yen or 268.84 yen per share.
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