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Taiwan Hon Chuan Expected to Double Profits in Q2

2014-07-07
  • Mainly driven by seasonal boom, Taiwan Hon Chuan Enterprise Co., Ltd., a major manufacturer of beverage packaging materials in Taiwan, is expected to double profits in the second quarter of 2014 from the first quarter.

     

    Taiwan Hon Chuan finished the first quarter with consolidated revenue of NT$4.331 billion (about US$144.367 million) and net profits of NT$223 million (US$7.433 million), up 8.7% and down 40% year-on-year, respectively, with EPS (earnings per share) of NT$0.86.

     

    With its output expansion in Southeast Asia gradually completed as planned, along with new orders coming in, the firm is estimated by institutional investors generate annual revenue exceeding NT$19 billion (US$633.33 million) this year, up over 14% yearly, with EPS of up to NT$5.5.

     

    The company just started up a new packaging material plant in Indonesia in the first quarter, and has confirmed carrying out several factory expansions in Thailand, Indonesia and Vietnam in the months to come. The existing plant in Surabaya City, Indonesia will have a new aseptic bottle filling line, which has been contracted out and is scheduled to be completed by the end of this year.

     

    Meanwhile, the firm's new factory in Anhui, China, will start up in the third quarter of this year, while another in Hubei Province is scheduled to be activated in the first quarter of next year.

     

    Taiwan Hon Chuan has just won a big order for over 100 million aluminum anti-counterfeiting caps a year from Kinmen Kaoliang Liquor Inc., a Taiwanese government-funded brewer, as well as some 10-year orders from Chinese customers, which is to contribute about NT$800-1,000 million to revenue this year. (SC)

     
    Taiwan Hon Chuan's Performance
    Period Net Profits EPS
    2010 NT$1.258 Bn. NT$5.24
    2011 NT$1.238 Bn. NT$5.00
    2012 NT$1.151 Bn. NT$4.43
    2013 NT$1.130 Bn. NT$4.27
    Q1 2014 NT$223 M. NT$0.86

    Source: Market Observation Post System

     

    (by Steve Chuang) CENS.com 2014/05/26

     
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