Taiwan's Formosa Plastics Group chairman William Wong said on Wednesday that due to the strong demand for petrochemical products, the group expects full-year profit before 2007 to hit a record high.
Wang Yongqing did not provide pre-tax profit expectations. Formosa Petrochemical Corp., Formosa Plastics Corp., Nan Ya Plastics Corp. and Formosa Chemicals & Co., Ltd. Fiber Corp. and other group companies did not announce their full-year 2007 profits until April.
A Formosa Plastics Company official who declined to be identified stated that the company’s profit before tax in 2006 was NT$294 billion (US$9.11 billion).