Financial Wire

Formosa Chemicals and Fibre Books NT$6.25 Billion Profit in Q1; Shares Rally 9%

-- Formosa Chemicals and Fibre (TPE:1326) booked net profit attributable to owners of NT$6.25 billion, or NT$1.07 per share, for the first quarter, according to a Friday Taiwan Exchange filing.

Shares jumped about 9% in Monday's afternoon trade.

Revenue for the quarter reached NT$81.75 billion, up 3.6% versus a year earlier, driven by higher sales volume and improved pricing.

The company said profitability was boosted by better aromatics margins, higher production and sales, and gains from equity-method investments, particularly from Formosa Petrochemical.

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