Nan Ya Plastics investments drive earnings of Formosa Plastics Group

14-Jul-14

The 4 units of Formosa Plastic Group - Nan Ya, Formosa Plastics Corp., Formosa Chemicals & Fibre Corp. and Formosa Petrochemical Corp., posted NT$54.6 billion (US$1.83 bln) in net profit for the past six month. This shows a rise of over 30% from a year earlier.Nan Ya Plastics Corp.'s investments in the memory chip industry helped drive earnings growth at four listed subsidiaries of FPG over the past six months, as per CNA. Over the six-month period, Nan Ya recorded NT$19.35 bln in net profit, a huge increase of 79.1% from a year earlier. Nan Ya said that as the global dynamic random access memory (DRAM) industry benefited from a tight supply, its investments in Nanya Technology Corp., which has turned a profit, have paid off. In the first half of the year, Formosa Plastics posted NT$10.93 bln in net profit, up 27.1% from a year earlier, while Formosa Chemicals & Fibre's net profit fell 24.8% from a year earlier to NT$9.16 bln. During the same period, Formosa Petrochemical registered NT$15.19 billion in net profit, up 49.3% from a year earlier.