Garment and fabric supplier Eclat Textile Co (儒鴻) yesterday said that its revenue is likely to increase by a double-digit percentage this quarter, thanks to rising demand from major clients such as Nike Inc and Under Armour Inc.
The company has clear order visibility through the first 10 months of this year at least, Eclat chairman Hung Chen-hai (洪鎮海) told investors.
“In the first quarter, it is 100 percent sure that our revenue will grow by a double-digit percentage,” Hung said. “If we can ship all products smoothly based on orders in hand, revenue is likely to climb to a record high this year.”
Photo: CNA
The firm posted revenue of NT$28.18 billion (US$992.6 million) for last year, up 0.18 percent from NT$28.13 billion in 2019.
Revenue last month expanded 28.6 percent year-on-year to NT$2.32 billion, bringing its revenue in the first two months to NT$5.11 billion, up 24.32 percent year-on-year.
However, a shortage of shipping containers is delaying about 10 to 12 percent of exports each month, creating uncertainty, Hung said.
Hung dismissed speculation about disruption to the supply of nylon, as well as increased prices of spandex and other types of fiber due to factory closures in Texas after cold weather.
However, he said that prices of certain fibers have risen by 10 to 15 percent.
Eclat posted a net profit of NT$4.25 billion for last year, slightly lower than the NT$4.30 billion it reported in 2019.
Earnings per share fell to NT$15.51 from NT$15.67, while gross margin slid to 28.67 percent from 28.85 percent, company data showed.
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