Taiwan: Taiwan Cement Corp has reported that its net income for the first half of 2019 increased by 11.7% to US$356m. However, its cement sales were lower year-on-year compared to the first half of 2018. The income was improved by contributions from its coal-fired power plant in Hualien County.
The company said that it remains positive with regards to the second half of 2019, as the rainy season is over, which is expected to boost cement demand and prices.
Separately, Asia Cement reported that net income soared by 46.5% year-on-year in the first half of 2019, predominantly thanks to record-high profits generated by its Chinese operations.