Credit Suisse upgrades TCC’s earnings outlook

Credit Suisse upgrades TCC’s earnings outlook
13 September 2013

Credit Suisse has revised up its 2013 earnings by 48 per cent for Taiwan Cement Corp International (TCC) to reflect the upside risk in cement price and sales volume from Guangdong/Guangxi market (51 per cent of sales).

Credit Suisse cited its sources suggesting that recent construction demand pick-up has been better in eastern/southern region versus potentially disappointing demand in other regions, likely driven by property and local government infrastructure construction.

It expects the highest upside risk in cement prices for the Guangdong/Guangxi market, driven by southern China seasonal strength, lower 2H supply pressure and better demand.

Published under Cement News