‘WORSE THAN EXPECTED’: The shoemaker’s performance last month fell short of analysts’ predictions, despite a traditional peak season, with sales falling 24.2 percent

Taipei Times
Date: Feb 21, 2018
By: Kuo Chia-erh  /  Staff reporter

Fulgent Sun Group (鈺齊國際), an outdoor footwear supplier to global brands such as Timberland, is this quarter expected to post a 15.1 percent quarterly decline in sales as a strong New Taiwan dollar might continue to weigh on the company’s revenue growth, Jih Sun Securities Investment Consulting Co (日盛投顧) said in a report earlier this month.

In light of the foreign-exchange factor, the brokerage said it has cut its sales estimate for Fulgent Sun to NT$2.33 billion (US$7.94 million) from the NT$2.74 billion it previously estimated.

The company posted sales of NT$2.75 billion for last quarter.

Net profit is expected to fall 1.5 percent quarter-on-quarter to NT$1.91 billion, Jih Sun said.    [FULL  STORY]