Taiwan Cement reports net profits of US$580.9m in 9M19

Taiwan Cement's net profit last quarter rose 10.17 per cent annually to NT$6.54bn (US$214.4m). Net profit in 9M19 increased by 11.14 per cent to NT$17.72bn (US$580.9m), a company record. Taiwan Cement put the strong results down to stable cement prices and a stronger contribution from the company’s coal-fired Ho-Ping power plant in Hualien on the back of falling coal prices.

However, revenue declined 3.51 per cent to NT$87.56bn during the January-to-September period.

TCC President, John Li, commented that the group is still growing its cement capacity. "We have added 19Mt to our production capacity from our Turkish unit since November last year, while another 7.6Mt came into play from our Portuguese unit," Li said, adding that overall production capacity is 101.5Mt.