The net profit before tax of listed companies in Taiwan increased 2.25% in the first quarter from the same period in 2015, according to the Taiwan Stock Exchange’s (TWSE) analysis of 834 consolidated financial statements. The combined total net profit of the companies reached NT$2.2077 trillion (US$72.76 billion), up NT$48.5 billion from the first quarter of 2015.
Sectors that helped boost the net profit in the quarter were semiconductors, oil and gas, plastics and steel. The steel industry benefited from increased prices, while semiconductors have seen strong demand so far this year.
While the net profit was good news for the TWSE, which is closed until tomorrow for the four-day holiday weekend, operating profit of listed companies in Taiwan slipped 0.16% in the first quarter from the same period in 2015. Combined operating profit in the quarter reached NT$27.8823 trillion, a decline of NT$46 billion.
The TWSE has risen from 9,272.88 on January 3 to 9,811.52 on March 31. After reaching its 52-week high on March 21, the market was expected to surpass 10,000, but profit-takers dragged the market down slightly.
The TWSE reopens tomorrow morning, April 5.