Yieh Phui Enterprise Co., Ltd. (Yieh Phui), a leading coating steel mill in Taiwan, reported a significant increase in its profit after tax for the first quarter, reaching approximately NTD 34 million (USD 1.05 million), marking a growth of 1.57 times compared to the same period last year. Additionally, the company's consolidated revenue rose to around NTD 19.5 billion ( USD 604.5 million), reflecting a year-on-year increase of 11.6%.
In a recent announcement, Yieh Phui stated its decision to maintain domestic prices for galvanized and pre-painted steel unchanged for May, with June's export offers also remaining unchanged.
The company noted expectations of easing global inflation, potential interest rate cuts by the EU, stimulus policies implemented by China since the beginning of the year, and anticipated GDP growth of at least 2% in the US for the seventh consecutive quarter.
Additionally, according to data from Taiwan's Ministry of Economic Affairs, export orders in March reached US$47.16 billion, reflecting a 1.2% year-on-year increase. Furthermore, Taiwan's economic growth prediction for 2024 has been raised from 3.1% to 3.38%, indicating a recovering market.
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