Major rubber makers saw revenues rise in Q1

Taipei, April 11, 2003 (CENS)--Three local manufacturers of rubber tires listed on the Taiwan Stock Exchange (TSE) witnessed their revenues for last quarter increase by 16.16%-17.05% from the first quarter of last year.


The three companies are Cheng Shin Rubber Industrial Co., Ltd., Kenda Rubber Industrial Co., Ltd., and Hwa Fong Rubber Ind. Co., Ltd.

Cheng Shin garnered revenue of NT$890 million last month, rising by 5.61% from the same month of last year and by 42.17% from the NT$626 million posted in February this year. The revenue for last month was the highest monthly figure ever for the company.

Cheng Shin raked in cumulative revenue of NT$2.399 billion in the first quarter of this year, growing by 16.63% from the NT$2.057 billion registered in the same three months of last year.

Kenda chalked up revenue of NT$268 million last month, going up by 3.88% from a year earlier and by 5.93% form the NT$253 million received in February. The company's three-month revenue came to NT$762 million, up by 17.05% from the NT$651 million registered in January-March last year.

Hwa Fong rang up revenue of NT$195 million in March, growing by 61.2% from a year earlier and by 31.76% from the N$148 million recorded a month earlier. The company brought in three-month revenue of NT$525 million, a year-on-year rise of 16.16%.

Together with its two subsidiaries in mainland China and Thailand, Hwa Fong raked in total revenue of NT$457 million in March. The company's three-month total revenue stood at NT$1.308 billion, rising by 15% from the same period of last year and the historically highest quarterly level.

In addition, Hwa Fong on April 9 released its 2003 financial projection as follows: revenue of NT$2.20 billion (up 6.17% from 2002), after-tax profit of NT$273 million (up 59.6%), and net (after-tax) earnings per share of NT$1.0.