Formosa Petrochemical sees doubling of Q1 profits

24 April 2007 07:55  [Source: ICIS news]

SINGAPORE (ICIS news)--The Taiwan-based refining major Formosa Petrochemical more than doubled its first-quarter operating profit to New Taiwan dollars (NT$) 16.1bn ($485.4m) from the same period a year ago.

 

Revenue in the quarter rose 21.7% to NT$133.3bn, while its net profit almost tripled to NT$12.4bn, it said in a statement on the Taiwan Stock Exchange late on Monday but it did not give reasons for the rise.

  

($1 = NT$33.17)

 

By: Florence Tan
+65 6780 4359

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