Pou Chen revenue falls as global demand shifts

The Taiwanese footwear manufacturer Pou Chen Corporation has reported a decline in its recent consolidated revenue, reflecting ongoing complexities within the global economic landscape.

According to the company's latest financial data, consolidated revenue for the first quarter of the year stood at 63.09 billion New Taiwan dollars, representing a decrease of 5.9 per cent compared to the same period last year. The decline has been attributed primarily to cautious ordering patterns from global brand clients, which affected shipment momentum within the core footwear manufacturing business.

Despite the lower quarterly revenue, the company recorded a significant increase in non-operating income. This was driven by its investment in Nan Shan Life Insurance, which adopted the new IFRS 17 accounting standard, resulting in a net profit after tax of 2.23 billion New Taiwan dollars.

Data for April indicated a stabilization in sales momentum. Monthly consolidated revenue reached 22.34 billion New Taiwan dollars, an increase of 15.3 per cent month-on-month and 3.8 per cent year-on-year. Within this, the footwear manufacturing business grew by 6.9 per cent compared to April last year.

Cumulative consolidated revenue for the first four months of the year totaled 85.44 billion New Taiwan dollars, a decline of 3.5 per cent compared to the corresponding period of the previous year.