Financial Wire

Taiwan Paiho's Profit Plunges 43% in Q1

-- Taiwan Paiho's (TPE:9938) net profit attributable to shareholders slumped 43.2% in the first quarter to NT$259.9 million versus a year earlier, according to a Tuesday Taiwan Exchange filing.

Shares of the textile accessories manufacturer gained about 2% in Wednesday's afternoon trade.

Revenue for the period dropped 5% to NT$4.04 billion, while operating profit plunged 42.6% to NT$518.9 million.

For March alone, net profit attributable to shareholders came in at NT$129.5 million, or NT$0.43 per share, the filing said.

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