FPG Most Profitable Group in First Half of 2008

Taipei, Sept. 2, 2008 (CENS)--The Formosa Plastics Group (FPG) scored NT$83.391 billion (US$2.647 billion at US$1:NT$31.5) for its four major subsidiaries in after-tax earnings in the firs half of this year, down 4.47% from NT$87.296 billion (US$2.77 billion) a year earlier and surpassing Hon Hai Group as Taiwan's most profitable private-sector business group.

The FPG's four major subsidiaries include Formosa Plastics Corporation, Nan Ya Plastics Corporation, Formosa Chemical & Fibre Corporation and Formosa Petrochemical Corporation.

FPC among the four subsidiaries ranked first by scoring NT$3.54 (US$0.11) in earnings per share, followed by FPCC at NT$3.46 (U$0.1), FCFC at NT$2.68 (US$0.085) and Nan Ya at NT$2.47 (US$0.07).

The FPG's four major subsidiaries registered NT$873.383 billion (US$27.72 billion) in combined sales in the first half of this year.

Nan Ya said it posted NT$18.84 billion (US$598.09 million) in after-tax earnings in the first half of this year, down 18.1% from the corresponding period of last year. The company posted NT$2.47 (US$0.078) in after-tax EPS in the first half of this year, a decrease of NT$0.55 (US$0.017) per share from a year earlier. Its operating profit margin reached 15.1% in the first half of this year, compared with 23.1% a year earlier.

Impacted by volatile crude oil prices internationally, FCFC posted NT$2.68 (US$0.085) in EPS in the first half of this year, down NT$0.78 (US$0.024) from NT$3.46 (US$0.1) a year earlier. The company saw operating profit margin slide to a low of 7.46% in the first half of this year, compared with 13.71% a year earlier.