TCI Co Ltd (大江生醫) posted record-high earnings per share of NT$17.79 for last year, up from NT$8.23 in 2017, as the company benefited from rising sales of dietary supplements, functional foods and skincare products, as well as strong growth in the Chinese market.
Net income last year grew 152 percent to NT$1.79 billion (US$250.46 million), while consolidated revenue almost doubled from NT$4.09 billion to NT$8.1 billion, the company said in a regulatory filing on Wednesday.
China accounted for 81.9 percent of TCI’s revenue last year, followed by the Asia-Pacific region with 8.4 percent, Taiwan with 4.9 percent, and Europe and the US with 4.8 percent, company data showed.
The company’s board of directors on Wednesday approved a plan to distribute a cash dividend of NT$7 per share and a stock dividend of NT$1.5, which represented a payout ratio of 47.78 percent.
The board also proposed to issue 15.39 million new shares, with the company to use the funds raised for business expansion, TCI said.
The proposals are subject to a shareholder vote at the firm’s annual general meeting on May 16, it said.
Given the company’s clear order visibility of two to three quarters, strong demand from Chinese clients and TCI’s determination to promote its new emulsified fish oil products, SinoPac Securities Investment Service Corp (永豐投顧) said it expects triple-digit annual sales growth in the first quarter and high-double-digit growth in the second quarter.
Sales and earnings could this year jump 48 percent and 23 percent respectively, SinoPac said.
TCI’s portfolio ranges from product concept design to original design manufacturing of a variety of items, including functional drinks, capsules, tablets, sachets and powders.
The company has plants and laboratories in Taiwan, China and the US, as well as sales outlets in Chengdu in China’s Sichuan Province, Osaka, Japan, and Paris.
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