Southeast Cement Corp’s disappointing 1Q24 results

Taiwan-based cement producer, Southeast Cement Corp Ltd, has reported its 1Q financial results for the period ending 31 March. 

The company saw a 9.3 per cent YoY increase in revenue, from TWD528.05m (US$16.29m) in 1Q23 to TWD576.89 in 1Q24. Pretax profit also rose by an impressive 178 per cent during this period, from TWD19.51m to TWD54.24m.

Despite these positive trends in revenue and pretax profit, the company’s net profit fell 16.2 per cent from TWD34.09m to TWD28.58m. Furthermore, earnings per share (for both basic and diluted shares) declined from TWD0.06 to TWD0.05 from 1Q23 to 1Q24.