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Formosa Chemicals & Fibre Corp Q1 FY20: revenue $64 bn

22
Jun '20
Pic: Formosa Chemical and Fiber Corporation
Pic: Formosa Chemical and Fiber Corporation
Formosa Chemicals & Fibre Corporation, a Taiwan-based manufacturer of chemical products, posted revenue of $64.4 billion (Taiwan dollars) in first quarter (Q1) FY20 ended on March 31, 2020, compared to the revenue of $89.2 billion in same period prior year. Company reported total loss of $4.3 billion compared to profit of $9.1 billion in Q1 FY19.
 
Operating loss for the reported quarter were $1.9 billion compared to operating profit of $8.2 billion in same period prior year. Total other comprehensive loss for the period were $47.2 billion compared to comprehensive income of $11.8 billion in Q1 FY19.
 
Net loss attributable to owners of the parent during Q1 was $4.6 billion compared to net income attributable to owners of the parent of $8.5 billion in same period prior year. 
 
The Formosa group manufactures and sells a variety of petrochemical products, including the spinning, weaving, dyeing and finishing of rayon and nylon fibre.

Fibre2Fashion News Desk (JL)


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