Hon Hai Q3 net profit rises 80% quarter-on-quarter

Focus Taiwan
Date: 2019/11/13
By: Chung Jung-feng and Frances Huang

Taipei, Nov. 13 (CNA) Hon Hai Precision Industry Co., the world's largest contract electronics maker, reported Wednesday that net profit for the third quarter soared 80 percent from a quarter earlier on the back of peak season effects.

At an investor conference, Hon Hai said its net profit for the July-September period stood at NT$30.66 billion (US$1.01 billion), up 80 percent from NT$17.05 billion in the second quarter. The third quarter figure was also up 23 percent from a year earlier.

The company's earnings per share rose from NT$1.23 in the second quarter to NT$2.21 for the third quarter, while also growing from NT$1.57 in the same period of last year, Hon Hai said.

Due to the improving bottom line, Hon Hai said its future cash dividend payout ratio is expected to be at least 40 percent.    [FULL  STORY]

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