Tokyo (ANTARA News/Asia PUlse) - Furukawa Electric Co.'s (TSE:5801) group operating profit is likely to surge 55 per cent to top 15 billion yen (US$167.7 million) for the year ending March 31, beating an earlier projection calling for 3 per cent growth to 10 billion yen.

Automotive wire harness demand has been recovering faster than expected, and the company is making steady progress in efforts to cut 16 billion yen a year in costs. In addition, a Chinese plant making high-voltage cables is running at capacity. 

Sales are seen reaching nearly 900 billion yen, exceeding the 807 billion yen forecast. But the figure undershoots the year-earlier 1.03 trillion yen, with demand still only 70 per cent recovered for brass products and standard wires.


Source:
Business in Asia Today - Feb. 8, 2010
published by Asia Pulse
 

Editor: Ricka

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