Abstract:
TAIPEI -(Dow Jones)- Formosa Plastics Corp. (1301.TW), the flagship company of Taiwan's Formosa Plastics Group, said Monday its first-half net profit rose 88% from a year earlier, driven by higher petrochemical product prices amid a recovering global economy.
Formosa Plastics, the world's second-largest polyvinyl chloride resin supplier by output after Japan's Shin-Etsu Chemical Co., said in a statement its net profit for the six months ended June 30 was NT$19.99 billion, or NT$3.27 a share, up from a net profit of NT$10.63 billion, or NT$1.74 a share, a year earlier.