Thanks to sales of Wankuo Commercial Building, Chia Hsin Cement Corporation, one of Taiwan’s largest manufacturers of cement, became the most profitable maker in the line by posting NT$4.68 (US$0.14 at US$1:NT$32.8) in after-tax earnings per share in the first half of this year.
In addition to Chia Hsin, other three-largest cement producers are Taiwan Cement Corporation, Asia Cement Corporation, and Universal Cement Corporation. Of them, Asia Cement earned the most with NT$3.69 billion (US$112.5 million) in after-tax earnings in the first half of this year.
Asia Cement said it registered NT$5.34 billion (US$162.8 million) in sales in the first half of this year, a slight decline from NT$5.37 billion (US$163.71 million) posted in the corresponding period of the previous year.
Despite the slight decline in sales, Asia Cement saw a 9% year-on-year growth in after-tax earnings in the first half. The company attributed the growth in earnings to the price hike for its products in domestic market.
The company scored NT$210 million (US$6.4 million) in after-tax earnings from non-core business operations in the first half of this year, NT$200 million (US$6.09 million) less than that posted in the same period of last year. With the inauguration of its cement plant in Sichuan Province, mainland China, the company will see year-on-year growth in earnings from the mainland this year.
Chia Hsin said it posted after-tax earnings of NT$238 million (US$7.25 million) on sales of NT$1.28 billion (US$39.02 million) in the first half of this year. The disposal of Wan Kuo Business Building earned the company NT$233 million (US$7.1 million). The company said its two cement plants, including Jingyang and Union, contributed a total of NT$110 million (US$3.35 million) to its overall earnings in the first half of this year.
Although Taiwan Cement has yet to release its first-half financial statement, an institutional investor predicted the company would post NT$2.6 billion (US$79.26 million) in pretax earnings in the first half of this year. The company scored NT$538 million (US$16.4 million) in earnings from disposing of a property located in Taan District of Taipei City in the second quarter of this year.
After meeting a breakeven point in the mainland in the first half of this year, Taiwan Cement is expected to see substantial growth in earnings from mainland investments in the second half of this year as its Yingte plant is increasing output.
Universal Cement posted NT$1.54 billion (US$46.95 million) in sales in the first half of this year, a decline of NT$30 million (US$914,630) from the like period of last year. The company posted NT$410 million (US$12.5 million) in after-tax earnings in the fist half of this year, representing a growth of NT$10 million (US$304,870) year-on-year.
The company scored NT$0.82 (US$0.025) in EPS after tax in the first half of this year, a slight growth from NT$0.79 (US$0.024) posted in the corresponding period of the year earlier.