HTC, Formosa Plastics most profitable in 2011: report

According to the report, on an unconsolidated basis, Formosa Plastics had the highest pre-tax profit in 2011, at NT$40.382 billion, among the 31 listed firms that have submitted their 2011 results ahead of the Lunar New Year break.

In fact, the four major subsidiaries of the Formosa Plastics Group ranked first to fourth among the top ten most profitable firms in 2011 on an unconsolidated basis. Formosa Chemicals and Fiber, Nanya Plastics and Formosa Petrochemical ranked No. 2 to No. 4 with pre-tax profits of NT$36.41 billion, NT$28.062 billion and NT$24.699 billion, respectively.

However, on a consolidated basis — meaning the inclusion of earnings from all of a company's local and overseas subsidiaries — HTC led with pre-tax profit of NT$71.544 billion, a 59.11 percent growth from 2010.

Its stock performance, however, has been less electrifying, falling from last year's high of NT$1,300 to NT$488.5 before the Chinese New Year's.

According to analysts, the first quarter has always been the slowest for HTC. Yet the firm is expected to see sales increase in the second quarter, after the rollout of several new models, they said.

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