Wed, Feb 14, 2018 - Page 12 News List

Feng Tay profits rose last month on rising volume

By Kuo Chia-erh  /  Staff reporter

Shoe manufacturer Feng Tay Enterprises Co (豐泰企業) yesterday posted a 67.84 percent annual increase in net profit to NT$327.96 million (US$11.17 million) for last month, for earnings per share of NT$0.49, up from NT$0.29 per share a year earlier.

Revenue was NT$5.31 billion last month, a 21.17 percent annual increase from NT$4.38 billion, with operating income soaring 61.45 percent from NT$336.93 million to NT$543.98 million.

The Yunlin County-based firm last month sold 9.14 million pairs of shoes, a 15.1 percent increase from a year earlier, its Web site showed.

Feng Tay, which has more than 110,000 employees worldwide, has production bases in Vietnam, Indonesia, India and China.

Yuanta Securities Co (元大證券) analyst Peggy Shih (施姵帆) on Jan. 16 said in a client note that Feng Tay is expected to benefit from Nike Inc’s positive outlook throughout this year, as the US brand contributes to about 80 percent of its total sales.

In light of continued demand from global brand clients, Feng Tay’s whole-year sales volume is expected to grow by more than 7 percent annually this year, the note said.

For this quarter, Feng Tay forecast shoe sales to grow 3 percent annually to 25.1 million pairs, its Web site showed.

Its shares on Monday gained 1.99 percent to close at NT$128.

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