Total revenues of TSE-listed firms up 14% in 2002

Taipei, Jan. 24, 2003 (CENS)--The combined revenues of all companies listed on the Taiwan Stock Exchange (TSE) increased by 14% in 2002 from previous year, thanks to the consecutive six months of double-digit annual growth rates in the second half of the year.

Statistics compiled from the over 600 companies traded on the TSE show their sales revenues in December amounted to over NT$517 billion, representing a healthy annual gain of 18.72% from the same month of 2001.

The figure boosted the whole-year revenues of all companies to more than NT$5.6 trillion for an impressive growth rate of 14%.

For December, only companies in the tourism, transportation and paper industries posted revenue decreases from the same month of 2001 while companies in all other 17 categories registered various growth rates.

Industries that recorded double-digit growth rates in December included foods, plastics, textiles, electronics, electric machinery, electrical appliances and wire & cable, construction, steel, chemical engineering, rubber, and automobiles. Auto companies chalked up the most enviable growth rate of 114% from the year-earlier period.

For the whole year of 2002, industries that generated double-digit annual revenue growth rates included cement, plastics, steel, electronics, rubber, and automobiles. The revenues of electronics companies had the highest annual growth rate of 22% last year. Electronics was also the only category that saw successive growth rates in all 12 months last year.

Only the three industries of construction, transportation, and tourism registered decreases in cumulative sales revenues during the whole year.

Except for February, which saw a drop of 4.22% in the consolidated revenues of all companies due to the Chinese Lunar New Year holidays, all of the other eleven months witnessed growth rates.

The TSE weighted share price index tumbled almost 20% in 2002. But the share prices of companies in traditional manufacturing sector, including autos, cement, plastics, and steel industries staged strong rallies. Companies in these industries were also among those that posted significant growth rates in revenues in the past year.