Footwear Maker Pou Chen's EPS Hit NT$2.87 in First Three Quarters

Taipei, Nov. 2, 212 (CENS)--Pou Chen Group, a major maker of footwear in Taiwan, saw robust operating performance with after-tax net profits of NT$8.395 billion (US$279.83 million) in the first three quarters, soaring 80.7% year on year (YoY), with after-tax earning per share (EPS) of NT$2.87 (US$0.0956).

The firm declared combined revenues (including revenues of Yue Yuen Industry Holdings Limited) of NT$168.89 billion (US$5.629 billion) in the first three quarters, rising 11.9% YoY, of which NT$128.9 billion (US$4.296 billion) and NT$36.428 billion (US$1.214 billion) came from footwear manufacturing and sports gear sales, annually increasing 8.7% and 17.8%, respectively, showing stable growth of the firm's core business.

Pou Chen's other businesses achieved revenues of NT$3.566 billion (US$118.86 million), surging 144.8% YoY, primarily due to disposal of 1,718 sq. meters of property of the firm's subsidiary, The Right & Great Co., Ltd., for NT$ 2.269 billion (US$ 75.63 million), near a developed area of Taichung city in Central Taiwan.

Land sale and stable growths in core businesses helped push combined gross operating profit and combined net operating profit in the first three quarters to NT$41.581 billion (US$1.386 billion) and NT$11.871 billion (US$395.7 million), rising 16% and 25% YoY, respectively.

The firm's combined non-operating net profit or equity reinvestment income in the first three quarters surged NT$2.426 billion (US$80.86 million) YoY, with profits mainly from Ruen Chen Investment Holding Co., Ltd, a Taiwanese firm backed by Ruentex Group and Pou Cheng Group.

According to Pou Chen, despite growing business of footwear manufacturing and sports gear sales, the global economy still remains uncertain due to fluctuating markets, which impact consumer willingness and causes de-inventorying.