Taiwan Cement Group's Profits in 2012 to Challenge US$333 M.

Taipei, Nov.6, 2012 (CENS)--With coming traditional high season and growing cement price and output, Taiwan Cement Co. (TCC), an affiliate of Taiwan Cement Group, expects to see rising profits in the fourth quarter to tie the first three quarters; while another affiliate China Synthetic Rubber Corp. (CSRC) will see sales rise from orphan drugs by the end of this year. Taiwan Prosperity Chemical Corporation (TPCC), another affiliate of the group, will see profits peak in the fourth quarter thanks to rising price of phenol, acetone, and Bisphenol-A products. An institutional investor estimates the group to achieve more than NT$10 billion (US$333.33 million) in profits in 2012.

Suffering from cement price decline in China, TCC's net profits in the first three quarters dropped 9% year on year (YoY) to NT$6.002 billion (US$200.01 million). However, as cement price in southern and eastern China in the fourth quarter is nearly 50% higher over the first half of 2012, along with increasing shipments, TCC's operation in China is expected to rebound remarkably.

An institutional investor predicts TCC to see annual profits grow 4.5% YoY to NT$9 billion, thanks to increasing price and shipments of cement on both sides of Taiwan Strait in the fourth quarter.

CSRC saw profits in the first three quarters rise 60% YOY to NT$1.349 billion (US$44.97 million), higher than expected. Due to growing profits from orphan drugs for Pompe disease, coupled with market recovery of carbon black, the firm is expected to see profits peak in the fourth quarter.

TPCC saw net profits in the first three quarters reach only NT$20.3 million (US$676666.67), less than 1% of the same period in 2011, due to significantly growing benzene price.

However, benefiting from stabilized benzene price and rebounding prices of phenol, acetone, and Bisphenol-A products, TPCC is predicted to turn losses into gains in the fourth quarter.