Taiwan Cement subsidiaries earnings rise up

Taiwan Cement subsidiaries earnings rise up
Published: 09 September 2011

The three major listed subsidiaries of the TCC Group, a sizable conglomerate in Taiwan, including Taiwan Cement Corp., China Synthetic Rubber Corp. and Taiwan Prosperity Chemical Corp, posted NT$6.304bn in after-tax earnings in the first half of 2011, up 47% YoY.

Driven by the coming of the peak season in the second half in tandem with increased capacities, the TCC Group expects earnings to hit an all-time high this year.

Taiwan Prosperity’s first-half after-tax earnings totalled NT$1.953bn, up 57.5% YoY. Taiwan Cement’s totalled NT$4.05bn, up 42.76% from a year earlier; and China Synthetic’s came to NT$301m, up 40%.

The TCC Group continues to rely on cement production in China as cash cow by acquiring, setting up plants, which will raise annual capacity there to over 60Mta this year.