 2012-09-10 |
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(Central News Agency, Reporter Zhao Xiaohui, Taipei, September 10, 2012) Rising international oil prices have driven up the prices of petrochemical products, spurring a wave of restocking by downstream manufacturers. Tape industry leader YC Group (4306) reported a self-calculated consolidated revenue of NT$1.688 billion for August, a 5.16% month-over-month increase and a 0.22% year-over-year increase. YC’s self-reported standalone revenue was NT$495 million, a 15.67% month-over-month decrease but a 7.93% year-over-year increase.
Its subsidiary ACHEM (1715) reported August revenue of NT$464 million, a significant 18.18% month-over-month growth, primarily due to increased shipment volumes from Middle Eastern customers, driven by their cyclical ordering patterns. However, this represented a 1.28% year-over-year decline.
YC stated that the situation in the Middle East became more tense in August, leading to a rebound in global oil prices. This prompted film and tape customers to actively restock inventories, driving up overall revenue for YC. Looking ahead to September, YC commented that the global economic outlook remains sluggish, and it is expected that both YC and ACHEM will show stable performance in September. If oil prices continue to rise, demand for downstream inventory restocking will surge, making revenue growth likely. |
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