Driven by robust performance from its non-woven fabric-related business, Japan’s Havix Corporation witnessed a healthy rise in sales revenue in H1 FY 2013-14.

 

The company, which is engaged in the manufacture, processing and sale of non-woven fabrics, posted a 16.1 per cent rise in consolidated sales revenue at 5.079 billion yen in H1 FY 2013-14 from 4.376 billion yen in the same period a year ago.

 

The company witnessed a rise of 26.8 per cent in its net sales from the non-woven fabric related segment at 2.833 billion yen in the six months ended 30 September 2013 from the same period a year ago.

 

The company has been undertaking aggressive expansion to boost sales from its non-woven synthetic fiber business including the establishment of the Motosu factory in December 2012, which has been up and running, contributing to higher revenue.

 

However, the profitability of the company’s non-woven fabric related business in the first half of FY 2013-14 was hit by higher costs due to a weaker yen. Therefore, the profit from the company’s non-woven fabric related segment fell by 19.9 per cent, year on year at 350 million yen in the six months ended 30 September 2013.

 

The company posted a consolidated net income of 233 million yen in the six months ended 30 September 2013, up slightly from 214 million yen in the same period a year ago.

 

Despite a gradual recovery in the Japanese economy, the company’s operating outlook looks uncertain amid a sluggish European economy and the slowdown in the Chinese economy