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Footwear Maker Feng Tay's Nov. Revenue Hits Record High of NT$4.449 Bn.

Dec 15, 2014 | By Steve Chuang

Benefiting from branded vendors' brisk shoe sales, Taiwan-based Feng Tay Enterprises Co., Ltd., a top-three contract manufacturer of footwear by size on the island, recorded a single-month high of NT$4.449 billion (US$148.3 million) in November revenue, surging 18.3% month-on-month (MoM) or 38.9% year-on-year (YoY), according to its latest financial report.

It produced 7.14 million pairs of  shoes in November, down 1.1% MoM but up 16.1% YoY, with shipments of 7.29 million pairs, growing 13.5% MoM or 23.1% YoY.

For the first 11 months of this year, its cumulative revenue reached NT$42.745 billion (US$1.42 billion), soaring 22.4% from NT$34.926 billion (US$1.16 billion) year on year, with aggregate output of 72.24 million pairs, up 15.4% YoY.

As for the Q4 outlook when sales are buoyed by holiday shopping to benefit world's major branded vendors as Nike, Salomon and Converse (all Feng Tay's customers), the contract maker optimistically forecasts its total footwear output at 21.64 million pairs in the quarter, up 5% from Q3 and 15% YoY, with shipments of 20.42 million pairs, representing a 13% YoY growth. Quarterly revenue is estimated at NT$12.66 billion (US$422 million) for a 25% yearly increase.

While its factories in Indonesia and Vietnam enjoying banner shipments, Feng Tay's Indian subsidiary, Lotus Footwear Enterprise Ltd., also has its production lines at the Factory 1 fully loaded for now, with the  Factory 2, having started up this April, also turning out monthly 100,000 pairs. Hence  Feng Tay's promising  performance so far this year.

Its EPS (earnings per share) for the first 10 months of 2014 has already reached NT$4.19 (US$0.13), and is expected to hit NT$5.2 (US$0.173) for the year. (SC)


Feng Tay's 2014 Performance by Quarter
Period
Q1
Q2
Q3
Revenue
NT$10.243 Bn.
NT$11.944 Bn.
NT$12.347 Bn.
Net Profits
NT$655.79 M.
NT$616.03 M.
NT$873.98 M.
Source: Market Observation Post System


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