Formosa Petrochemical Corp. pretax profit in 2012 plunge 90

07-Jan-13

Formosa Petrochemical Corp’s pretax profit in 2012 plunged 90%, hit by high crude-oil costs and weak global petrochemical demand. The company recorded a pretax profit of 2.44 billion New Taiwan dollars (US$84 million) in 2012, down sharply from NT$24.67 billion in the previous year. For the three months ended Dec. 31, Formosa Petrochemical recorded a pretax profit of NT$1.98 billion. It didn't give a comparison figure of the Q4-2011.