Tokyo Gas Reports 19% Decline in 1st Half Net Profit

By Kyodo News International, Tokyo

Oct. 31–TOKYO — Tokyo Gas Co. said Monday its group net profit slipped 19.3 percent from a year earlier to 22.15 billion yen in the first half of fiscal 2005 as soaring crude oil prices pushed up its cost of raw materials.

Consolidated pretax profit came to 32.49 billion yen in the April-September period, down 26.8 percent, on a 4.0 percent increase in sales to 534.46 billion yen.

The gas supplier will pay out an interim dividend of 3.50 yen per share, unchanged from a year before.

For the full business year to next March 31, Tokyo Gas anticipates a group net profit of 67 billion yen and a pretax profit of 99 billion yen on sales of 1,248 billion yen, against the previous year’s corresponding figures of 84.05 billion yen, 132.86 billion yen and 1,190.78 billion yen.

The company intends to pay a full-year dividend of 7 yen per share, the same as for fiscal 2004.

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