By: Tien Yu-pin and Frances Huang
Taipei, May 16 (CNA) Listed companies on the local main board posted a more-than 11
percent year-on-year increase in pretax profit in the first quarter of this year at a time when the economy at home and abroad has been on the road to recovery, according to data released Wednesday by the Taiwan Stock Exchange (TWSE).
The TWSE, which operates the local main board, said listed firms in the exchange raked in NT$503.7 billion (US$16.85 billion) in pretax profit, up 11.29 percent from a year earlier.
According to the exchange, the Internet/communications, plastics and semiconductor industries served as an anchor to the earnings growth during the January-March period.
The TWSE said the Internet/communications industry benefited from disposal of assets and revenue from licensing, while the bottom line of the plastics sector was boosted by solid global demand. [FULL STORY]