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Taiwan's Leading Shoe Makers Reap Harvests in Q3

2014/11/06 | By Judy Li

Taiwan's leading shoe makers, including Pou Chen Corp., Feng Tay Enterprise Co., and Fulgent Sun International Holding Co., witnessed an uptrend in revenues in the third quarter and are optimistic about the business climate in the fourth quarter.

In September alone Pou Chen chalked up revenues of NT$20.368 billion (US$678.93 million) for an annual growth of 7.6%. For the third quarter as a whole, the company's revenues came to NT$59.717 billion (US$1.99 billion), down 6.7% from the previous quarter but up 6.8% from a year earlier. In the first nine months its accumulated revenues showed an annual rise of 7.6% to NT$179.615 billion (US$5.99 billion).

In the same period Pou Chen's affiliated Yue Yen Industrial Ltd. also performed well. In September Yue Yen raked in revenues of US$675 million (about NT$20.295 billion), for a year-on-year rise of 6.8%; in the first nine months its revenues grew 6.7% YoY, to US$5.935 billion.

Feng Tay took in revenues of NT$4.225 billion (US$140.83 million) in September, a 22.3% rise from a year earlier and the second-highest monthly figure ever recorded by the company. In the first nine months its revenues totaled NT$34.534 billion (US$1.15 billion), up a sharp 20.7% YoY.

The production lines at Feng Tay's ‘Lotus' production base in India, which focuses on Nike sports shoes, is currently fully booked. A second plant there came on line in April this year and is now turning out 100,000 pairs of shoes a month.

Not all of Taiwan's footwear makers fared so well in September. Fulgent Sun saw its revenues in fall 10.3% from a month earlier and 11.2% from the same month of 2013, to NT$563 million (US$18.77 million).  For the third quarter as a whole, however, the firm's revenues were up 4.4% YoY to NT$2.02 billion (US$67.33 million), and its take for the first three quarters rose by a sizable 19.8%, to NT$6.3 billion (US$210 million). (JL)