Fu Sheng Industrial's half-year net profit up 112.8%

Taipei, Aug. 25, 2003 (CENS)--Fu Sheng Industrial Co., Ltd., the largest local producer of golf heads listed on the Taiwan Stock Exchange, recently published its financial report for the first half of this year, with after-tax profit of NT$1.736 billion soaring by 112.8% from the January-June period last year.

Fu Sheng is also the largest OEM (original equipment manufacturing) producer of golf heads around the world. In addition to golf heads, the company makes air compressors and lead frames used in packaging Ics (integrated circuits).

During the first half of this year, Fu Sheng rang up revenue of NT$4.645 billion, growing by 22.76% from the same period of last year. The company reaped six-month pretax profit of NT$2.009 billion, translating into earnings per share (EPS) of NT$3.81. The company's corresponding six-month net (after-tax) EPS stood at NT$3.29.

Fu Sheng's financial projection for this year is as follows: revenue of NT$9.2449 million, net operating profit of NT$2.0267 billion, pretax profit of NT$2.7224 billion, after-tax profit of NT$2.2442 billion, and net EPS of NT$4.22. The six-month percentage fulfillment of the 2003 goals were 50.24% for revenue, 73.80% for pretax profit, and 77.35% for after-tax profit.

Fu Sheng brought in cumulative revenue of NT$5.43 billion in the first seven months of the year, rising by 22.61% from the same period of last year and attaining 58.74% of the goal for this year.