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Uni-President Taiwan's most profitable food maker in first 3 qtrs.

Taipei, Nov. 4, 2009 (CENS)--The successful reinvestments in China and Southeast Asia have helped Uni-President, a major Taiwan-based conglomerate and F&B maker, to post after-tax net profits of NT$7.22 billion (US$218.79 million at US$1 = NT$33) in the first three quarters of this year, surging an annual 46%.

In the same period the company's earnings-per-hare (EPS) was NT$1.85 (US$0.06), the highest among public food manufacturers in Taiwan, with gross profit being NT$8.483 billion (US$257.06 million) and gross profit rate of 24.97%. Compared to the same period of last year, the former rose by NT$797 million (US$24.15 million) and the latter up by 5.24 of a percentage point.

However, the company's revenues declined by 12.78% from a year earlier to NT$33.97 billion (US$1.03 billion) in the first nine months, which insiders said was caused by the sizable 35.8% fall in revenues from oil, flour and feed.

Uni-President's operations in China is improving steadily. Beverages as teas, fruit juices and bottled water are expected to generate higher profits this year than last year, and those of instant noodle to turn positive from negative. In the third quarter alone, the company's operations in China posted profits of NT$785 million (US$23.79 million).

In addition, Uni-President's businesses in Southeast Asia grew a whopping 145% in the first three quarters, with Vietnam being the major profit-maker. The other operations in Thailand, Indonesia, and the Philippines are expected to turn profitable as well this year; while Uni-President's supermarkets in the United States and Canada posted profits of NT$1.05 billion (US$31.82 million) in the first three quarters.

((JL)) (G)
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Publication:The Taiwan Economic News
Article Type:Brief article
Date:Nov 4, 2009
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