FPG’s 4 major units suffer over 36% fall in Q3 net profit

Focus Taiwan
Date: 2019/10/08
By: Pan Yi-ching and Frances Huang

Taipei, Oct. 8 (CNA) The four major subsidiaries of the Formosa Plastics Group (FPG) saw their combined net profit for the third quarter of this year plunging more than 36 percent from a year earlier, the four companies said Tuesday.

The fall was due to falling product prices at a time of weakening global demand caused by trade friction between the United States and China, the companies said.

The combined net profit of the four units — Formosa Plastics Corp., Nan Ya Plastics Corp., Formosa Chemicals & Fibre Corp. and Formosa Petrochemical Corp. — totaled NT$48.85 billion (US$1.58 billion), down 36.5 percent from a year earlier.

On a quarter-on-quarter basis, however, the combined profit rose 62.7 percent in the third quarter, largely on the back of income of cash dividends from their equity investments.    [FULL  STORY]

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