Taiwan Cement subsidiaries earnings rise up
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.
Published under Cement News
