Taiwan Cement achieves record profits

Taiwan Cement has reportedly posted record earnings for the full year 2013. Net profit reached NT$10.03 billion (US$330 million), which amounts to a 28.81% increase y/y and marks the first time in the company’s history that profits have exceeded NT$10 billion. Consolidated sales were also up year-on-year, at NT$116.10 billion, while gross margin reached 19.66% - an increase of 4 percentage points.

Taiwan Cement is Taiwan’s biggest cement producer and the sixth largest cement producer in China. Though the cement industry in China is in a transition phase, with much outdated capacity being shut down, the company is expecting to benefit from China’s insistence on modern technology by taking the opportunity to increase shipments there. Chairman Koo Cheng-yun has previously predicted that the Chinese market offers 8 – 10 years of steady growth. The company is in talks over further acquisitions in China, targeting 100 million tpa cement capacity in the country by 2016.

Edited from various sources by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/01042014/taiwan_cement_posts_record_profits_971/