Daio Paper Q1 revenue falls but profits surge

Daio Paper Corporation reported consolidated net sales of 158.2bn yen for the first quarter ending June 30, down 4.8% year-over-year.

However, operating profit increased 6.8% to 2.1bn yen, while ordinary profit surged 93% to 144m yen. The company swung to a profit of 335m yen attributable to owners, compared to a 1.08bn yen loss in the same period last year.