Fri, Oct 05, 2012 - Page 13 News List

Formosa Plastics leads whole group’s earnings

By Amy Su  /  Staff reporter

As for Formosa Petrochemical, the refiner made a pretax profit of NT$11.18 billion in the third quarter, or NT$1.17 per share, rebounding from NT$15.57 billion, or NT$1.63 per share, in pretax losses in the second quarter. That allowed the company to post NT$479.71 million, or NT$0.05 per share, in pretax profit in the first nine months, down 98.4 percent year-on-year.

Formosa Petrochemical president Tsao Mihn (曹明) said he expects that Brent crude oil prices may remain between US$110 and US$115 per barrel for the rest of the year, with the demand side leading the company’s profitability in the fourth quarter.

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