Four Formosa Plastics subsidiaries report 10% monthly revenue declines

Formosa Plastics Group’s (FPG, 台塑集團) four major subsidiaries yesterday posted monthly declines in revenue of more than 10 percent last month, and said the weakness would likely remain throughout this quarter as macroeconomic uncertainty continues to curb demand.
Petrochemical producer Formosa Plastics Corp (FPC, 台塑), the group’s flagship company, saw revenue tumble 16.7 percent month-on-month to NT$19.94 billion (US$664.76 million) as inflation and rising inventory in the supply chain curtailed demand for home appliances and consumer electronics, the firm said in a filing with the Taiwan Stock Exchange.
As central banks worldwide raise interest rates to rein in rising inflation, their actions

Related Keywords

Taipei ,T Ai Pei ,Taiwan ,Formosa ,Nan Ya ,Jason Lin ,Formosa Petrochemical Corp ,Taiwan Stock Exchange ,Formosa Plastics Corp ,Formosa Plastics ,Formosa Plastics Group ,Nan Ya Plastics Corp ,Fibre Corp ,Four Formosa Plastics ,Lisa Wang ,Plastics Group ,Taiwan Stock ,Yunlin County ,Mailiao Township ,Taipei Times File ,台北時報 ,The Taipei Times ,