Tycoons Group Scored a 24% Yearly Growth in Sales of NT$163 Million for September

Driven by profitability of its Thai subsidiary along with consistent efforts to explore overseas markets, Tycoons Group Enterprise Co., Ltd., a fastener maker in Taiwan, scored a 24% yearly growth in sales of NT$163 million for September, according to the company's financial statements. The company posted first-nine-month aggregate revenue of NT$1.945 billion for an 18.1% increase compared to a year ago. The company attributes the banner revenue growth in September in part to the thriving subsidiary Tycoons Worldwide Group (Thailand) Public Co., Ltd., which shipped about 1700 metric tons of fasteners to drive parent company's revenue. Benefiting from the Thai government's expanded infrastructural development, the subsidiary raked in NT$645 million in sales for September, for a strong growth of 79.87% from last September, and NT$6.406 billion for the past nine months for a 44.33% increase from the same period of last year. Tycoons Group pointed out that the Thai subsidiary's sales of wire rods in September, totaling NT$237 billion more than that of a year ago, shows the booming fastener market in the country. Industry insiders say that Tycoons Worldwide will very likely see stronger revenue growth in the months to come, due mainly to post-flood reconstructions in Thailand calling for screws, wire rods and bolts in the short term. Source: Chinafastener. Com