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Taiwan’s TMP Steel faces 16% y-o-y growth on Q1 turnover

14 May 2021 16:46 reported by Jordan Huang

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According to the financial report from TMP Steel, one of the steelmakers in Taiwan, the firm's turnover for the first quarter of this year was NT$870 million, increasing by 16% year on year, and the net operating profit after tax was around NT$12.7 million, which decreased by 23% year on year.

Furthermore, the general manager of TMP Steel also mentioned that the steel market and demand showed optimism in the next half of the year, and the main reason for the decreasing profit rate was due to the strong increasing raw material price, which caused the profit rate to decrease by 0.93% year on year but it was expected to resume on the next half of the year.

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