China's credit-tightening measure, the European debt crisis and the heavy floods in Thailand have made FPC, Nan Ya and FCFC take a conservative attitude toward their operations in the fourth quarter of this year.
Due to subdued production capacity, FCFC saw after-tax earnings decline by 30.
FCFC mainly rolls out petrochemicals and chemical-fibers as PTA (purified terephthalic acid) and PS (polystyrene), with FPC mainly producing petrochemicals and plastics as PP (polypropylene), PVC (polyvinyl chloride) and AE (acrylic ester).
Institutional investors predict the FPG's Ningbo Beilun petrochemical zone will see two billion renminbi in after-tax earnings this year, with FCFC and FPC, based on such projections, to post NT$6 billion and NT$4 billion in after-tax earnings, or NT$1.
FCFC was the group's most profitable firm by posting NT$3.
Benefiting from the price spike in such major products as PVC (polyvinyl chloride), EG (ethylene glycol) and PTA (purified terephthalic acid), FPC, Nan Ya and FCFC saw pretax earnings from core-business grow between 74% and 89% in the first quarter of this year.
Based on the anticipated NT$300 billion annual sales target, institutional investors believe FCFC
will see this year's after-tax earnings per share exceed 2010's NT$8.
Nan Ya saw a 149% year-on-year growth in 2010 earnings and FCFC
and FPC posted 61.
Of them, FPC, Nan Ya, FCFC
, FPCC each has resolved to release 1.
803 billion because of smooth resumption of operations of its ethylene plant, which will benefit FPC, Nan Ya and FCFC
as they have cross shareholdings.
3 billion, or about NT$70 billion, and cover the products of PVC (polyvinyl chloride), EVA (ethylenevinyl acetate), AE (acrylic ester), SAP (superabsorbent polymer) produced by FPC; DOP (dioctyl phthalate), BPA (bisphenol A) produced by Nan Ya; and PS (polystyrene), ABS (acrylonitrile butadiene styrene), PTA (purified terephthalic acid) and synthetic phenol produced by FCFC
Of the FPG's four major subsidiaries, FCFC