Taiwan Glass third-quarter revenue

Taiwan Glass Industry Corp., a large local manufacturer of glass products and glass fabric listed on the Taiwan Stock Exchange, collected revenue of TWD 500 million in the first three quarters of this…

Taiwan Glass Industry Corp., a large local manufacturer of glass products and glass fabric listed on the Taiwan Stock Exchange, collected revenue of TWD 500 million in the first three quarters of this year, fulfilling 71.4% of the goal for this year. Although the company“s three-quarter revenue dipped by 2.7% from the same period last year, the revenue last quarter was higher than recorded in the first and second quarters, the company indicated. Apart from its domestic production, Taiwan Glass has three glass factories in mainland China, two in Qingdao of Shandong Province and one in Jiangsu Province. In the first three quarters of this year, the factory in Jiangsu Province brought in revenue of CNY 211 million, the other two in Qingdao raked in CNY 213 million and CNY 75 million respectively. Therefore, Taiwan Glass“ production in mainland China recorded three-quarter revenue of CNY 500 million, slightly dropping by 2.72% from the CNY 514 million posted in the same period last year. In contrast, the three factories“ total revenue of CNY 325 million for the first half of this year slightly rose by 1.9% from the same six months of 2000. Thanks to quite good prices of glass products in mainland China, Taiwan Glass enjoyed considerable profit from its production there last year. However, the prices have fallen this year due to many new competitors in the mainland market. Thus, the company expects its three-quarter profit from production in mainland China to slip by over 30% from the same period last year. However, the profitability in the fourth quarter is estimated to be better than in each of the first three quarters of this year because it is a traditionally peak-sale period.