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June 23, 2017

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Local firms report sales growth in March

TAIPEI, Taiwan -- Local companies released their financial statements for March and the first quarter yesterday, with many, including Chunghwa Telecom (CHT, 中華電信), Hon Hai Group (鴻海集團) and Delta Electronics Inc. (台達電) reporting high growth figures.

Chunghwa Telecom reported consolidated revenue of NT$17.45 billion in March, down 0.2 percent year-on-year. The company's after-tax profit totaled NT$3.13 billion, up 5 percent year-on-year, netting NT$0.4 per share.

CHT pointed out that the consumer base for mobile Internet continued to rise, contributing to an 18.2-percent growth in mobile business revenue. The increase offset sales declines from fierce market competition, rate promotion, and lower demand for mobile phones.

CHT raked in NT$55.06 billion worth of sales in the first quarter, a 2.7-percent decline compared with a year ago. The after-tax profit was pegged at NT$10.2 billion, up 10.9 percent. The performance was better than investors' expectation.

Hon Hai Group also released its March financial statements yesterday. The company's March consolidated revenue reached NT$307.819 billion, up 18.22 percent compared with a year ago.

While sales of consumer electronics are now in the off-season, Hon Hai has placed more of its development focus on cloud technology, including servers and storage devices, among others.

The company's consolidated revenue in the first quarter reached NT$882.996 billion, up 9.15 percent compared with the same period last year and was within institutional investors' expectations.

Hon Hai Precision Industry Chairman Terry Gou (郭台銘) has said that he expects the company's performance in the second quarter to level with that of the first one, while more growth momentum is likely to pick up in the second half of the year.

Delta Electronics Inc., the world's largest provider of switching power supplies and DC brushless fans, reported a consolidate revenue of NT$15.353 billion in March, up 9 percent year-on-year.

The company's consolidated revenue in the first quarter was pegged at NT$43.036 billion, up 11 percent from the same period last year, which also falls within investors' expectations.

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