TWSE-listed companies post 74.03% rise in pre-tax profit

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The 883 Taiwanese companies and 76 foreign companies listed on the Taiwan Stock Exchange (TWSE) reported combined pre-tax income last year that rose 74.03% from a year earlier to a record 5 .02 trillion NT dollars ($174.49 billion), the exchange announced on Friday.

Companies listed on the TWSE generated NT$37.32 trillion in combined revenue, up 15.66 percent year-on-year, the exchange said in a statement.

The results were largely driven by companies in the shipping, semiconductor, finance and insurance sectors, he said.

Photo: Maurice Tsai, Bloomberg

Shipping companies have benefited from a surge in freight rates amid global port congestion and supply shortages exacerbated by the COVID-19 pandemic, the exchange said.

The semiconductor industry has benefited from the rise of the stay-at-home economy amid the pandemic and growing demand for emerging technologies such as 5G applications, high-performance computing devices and automotive electronics, a he declared.

Companies in the financial services sector have benefited from the growth in loans, as well as the boom in global capital markets, which have boosted their investment returns, he added.

Meanwhile, companies listed on the over-the-counter (OTC) market reported combined pre-tax income of NT$322.4 billion last year, up 41% from a year earlier, while combined revenue rose 17% to NT$2.65 trillion, the exchange said.

Among publicly traded companies, 68% reported higher pre-tax earnings, and their overall double-digit percentage earnings growth largely reflects strong gains in the semiconductor, electronics and electronics sectors. steel, the exchange said.

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