Polyester manufacturer Teijin Ltd today posted a 13 per cent drop in fiscal first-half group net profit of 7.2 billion yen ($59.9 million), compared with 8.27 billion yen a year earlier, and said it was cutting its full-year forecast. For the period ended September 30 group sales grew 24 per cent to 456.1 billion yen from 366.66 billion yen as a result of recent mergers and acquisitions. Pre-tax profit slumped 27 per cent to 12.53 billion yen from 17.15 billion yen.