OPTIMISM:The group’s four main ubsidiaries provided generally positive business outlooks for the rest of the year, despite fluctuations in international crude oil prices

Taipei Times
Date: Jun 07, 2017
By: Kuo Chia-erh / Staff reporter

Formosa Plastics Group (FPG, 台塑集團), the nation’s largest industrial conglomerate, yesterday reported that combined sales at its four main subsidiaries last month increased 4.1 percent annually to NT$119.52 billion (US$3.97 billion), primarily due to rising customer demand.

The figure also translated into an 8 percent increase from NT$110.7 billion in April, filings with the Taiwan Stock Exchange showed.

Among the four units, Formosa Petrochemical Corp (台塑石化), the nation’s only listed oil refiner, led the increase with revenue of NT$50.39 billion last month, a 1.9 percent increase from a year earlier and a 19.2 percent increase from a month earlier.

“The performance was supported by higher production volume and rising oil prices last month,” Formosa Petrochemical president Tsao Minh (曹明) said at an earnings conference in Taipei.    [FULL  STORY]