One of Taiwan’s leading cement makers, the company said Tuesday its net profit during the six-month period totalled NT$4.05bn (US$140m), up 42.77 per cent from a year earlier.
Earnings per share was NT$1.1, up from NT$0.86 in the first half of last year and the second highest in the company’s history, behind only the NT$1.16 EPS registered in the first half of 2007.
During the same period, Taiwan Cement generated NT$11.98 billion in sales, up 10.42 per cent from a year earlier, and its gross margin stood at 6.5 per cent, compared with 6.22 per cent a year ago.
Taiwan Cement said its improving bottom line largely reflected the contribution made by its China-based subsidiary TCC International Holdings Ltd., which posted HK$909m in interim profit, up from HK$112m a year earlier.
Taiwan Cement said it expects a better earnings outlook for the second half of this year as the cement sector in China will benefit from the industry’s peak season, when product prices will likely rise 8-12 per cent from the first half.
The higher product prices on the mainland will also reflect ongoing power rationing there, which has put a lid on cement production volume.
