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.

This story has been viewed 3082 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top