Far Eastern Textile’s Q1 profits fall by half

30 April 2008 11:26  [Source: ICIS news]

SINGAPORE (ICIS news)--Far Eastern Textile has posted a 47.5% fall in first-quarter operating profits to Taiwan dollars (NT$) 160m ($5.26m), the textile major said on Wednesday, without providing reasons for the fall.

Its affiliated polyester producer Far Eastern Polychem posted the biggest plunge in first-quarter earnings from NT$3m in 2007 to a deficit of NT$115m in 2008, while its investment arm Far Eastern Investment reported the largest surge in earnings to NT$215m, from NT$34m year on year.

Earlier this month, Far Eastern Textile reported a 12.9% rise in March revenues from the same period a year ago.  

 

($1 = NT$30.4)

ICIS Copyright © Reed Business Information 2009

Author: Serene Cheong
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