Taipei Times
Date: Jun 08, 2020
By: Chen Cheng-hui / Staff reporter

The combined revenue of Formosa Plastics Group’s (FPG, 台塑集團) four major subsidiaries last month fell by a double-digit percentage point from a year earlier, as the COVID-19 pandemic weakened downstream demand and reduced average selling prices.

The consolidated revenue of Formosa Plastics Corp (台灣塑膠), Nan Ya Plastics Corp (南亞塑膠), Formosa Petrochemical Corp (台塑石化) and Formosa Chemicals & Fibre Corp (台灣化學纖維) totaled NT$76.57 billion (US$2.57 billion), a decline of 40.4 percent, the firms’ stock exchange filings on Friday showed.

On a monthly basis, their combined revenue was up 1.5 percent from April on the back of a 15.9 percent increase in revenue at Formosa Petrochemical, the nation’s only listed oil refiner.

It said its revenue grew 15.9 percent month-on-month to NT$25.69 billion, as sales in its refining business rose 25.2 percent and its naphtha business expanded 11.2 percent.    [FULL  STORY]