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Taiwan-listed companies report earnings growth in Q1

Taiwan-listed companies report earnings growth in Q1

Taipei, May 19 (CNA) Taiwan-listed companies, excluding financial holdings firms, reported an overall 8.97 percent average increase in pre-tax profits for the first quarter of 2014 thanks to good results in the semiconductor and optoelectronic sectors, the Taiwan Stock Exchange Corp. (TWSE) announced Monday. The companies' pre-tax profits totaled a combined NT$349.9 billion (US$11.6 billion) in the three months ending in March, higher than NT$321.1 billion recorded a year earlier. Their first-quarter average revenue grew by 4.36 percent year-on-year to NT$6.11 trillion. Among the 794 companies listed in Taiwan, 459 generated higher profits in the first quarter than those in the same period of last year, with most of them classified in the semiconductor and optoelectronic sectors, the TWSE said in a statement. The better earnings performance in the local semiconductor sector was a result of increasing demand for DRAM chips, smartphone chips and other wafer applications, while the optoelectronic sector returned to black on a recovery in panel demand, the TWSE explained. (By Jeffrey Wu)


Updated : 2021-04-11 02:29 GMT+08:00