Taiwan Cement announces Q3 results

Published by Emily Thomas, Deputy Editor
World Cement, Thursday, 12 November 2020 09:55

Taiwan Cement has announced the following consolidated financial results for the third quarter ended 30 September 2020, as compared to the corresponding period of last fiscal year:

Revenue was NT$29.8 billion and decreased 3%
Gross profit rate was 35%, a historical high, and 4% higher than the gross profit rate of 31% in 3Q19
Operating income was NT$9 billion and increased 12%
Net income was NT$7.4 billion and increased 14%
Basic earnings per share was NT$1.30 and increased 14%

The year-to-date financial results from the first quarter to the end of the third quarter in 2020 are the following, as compared to the corresponding period of last fiscal year:

Revenue was NT$82.2 billion and decreased 6%

Gross profit rate was 33%, a historical high, and 4% higher than the gross profit rate of 29% in the corresponding period of last fiscal year

Operating income was NT$22.8 billion and increased 9%

Net Income was NT$18.4 billion and increased 4%

Basic earnings per share was NT$3.15 and increased 2%

“Fourth quarter is the traditional peak season for the cement market and we remain optimistic about our performance”, said Edward Huang, Senior Vice President and Spokesperson of Taiwan Cement.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/12112020/taiwan-cement-announces-q3-results/