TYC Brother Industrial Co (堤維西), which makes lighting products used in vehicles, expects an 8 percent increase in annual revenue next year thanks to increased sales from its subsidiaries, a company executive said on Tuesday last week.
TYC Brother revenue is expected to expand to NT$20 billion (US$630.06 million) next year, compared with NT$18.5 billion this year, the company said.
Sales from China-based Varroc TYC Auto Lamps Co (大茂偉瑞柯), which TYC Brother owns 50 percent of the shares, are expected to rise to 1 billion yuan (US$160.66 million) next year from 900 million yuan this year, after Varroc TYC acquires a factory in Changchun in Jilin Province, the company said.
Sales from JUOKU Technology Co (儒億科技), 70 percent owned by TYC Brother, are expected to rise to NT$1.92 billion next year, up from NT$1.8 billion this year, TYC Brother said.
JUOKU Technology’s new factory in Indonesia is expected to generate revenue of NT$500 million next year, reaching its break-even point, up from NT$400 million this year, TYC Brother said.
JUOKU Technology would also set up a subsidiary in Malaysia and rent a factory there next year, Wu Chun-chi (吳俊佶), company chairman chairman, told reporters.
“TYC Brother’s division in Taiwan is to supply products to the aftersales market in Europe and the US, while Varroc TYC will focus on original equipment manufacturing business in China and JUOKU Technology will deal with the original equipment manufacturing business in Southeast Asia,” Wu said.
In the past three quarters, sales for TYC Brother’s Taiwanese division accounted for 65 percent of its NT$13.77 billion revenue, while Varroc TYC contributed 25 percent and JUOKU Technology 10 percent, according to the company.
From January through September, TYC Brother registered profit of NT$323.6 million, or NT$1.04 per share, up from NT$161.49 million, or NT$0.52 per share, the previous year, benefiting from rising sales in the US after it seized control of Genera Corp, a retail company, according to the company.
The company is expected to post a pretax profit of NT$2 per share this year, it said.
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