Hsing Ta Cement sees 47% fall in net profit in 3Q24

Taiwan-based Hsing Ta Cement posted a revenue of TWD1059.1m (US$32.6m) in the third quarter of 2024, down 33.6 per cent when compared with TWD1595.2m in the equivalent period of 2023.

The company’s pretax profit shrank by 52.3 per cent to TWD104.9m in the 3M24 from TWD219.9m in the 3M23 while net profit dropped by 46.8 per cent to TWD62m from TWD116.4m in the year-ago period.

Hsing Ta Cement operates the 1.56Mta Nan Shang Hu integrated works in Su’ao, Yilan, on Taiwan’s northeastern coast.