Taiwan Cement Co expects profits to rise in the fourth quarter of on the back of increasing demand and rebounding cement prices in China.
TCC’s net profits in the first three quarters dropped nine per cent YoY to NT$6.002bn (US$200.01m) as it suffered from declining cement prices in China. However, with cement prices in southern and eastern China in the fourth quarter nearly 50 per cent higher over the first half of 2012, along with increasing shipments, TCC’s operation in China is expected to rebound significantly.
One institutional investor predicts TCC to see annual profits grow 4.5 per cent YoY to NT$9bn, thanks to increasing price and shipments of cement on both sides of Taiwan Strait in the fourth quarter.
