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Sheh Fung Expects Growth Desipte 12% Drop in First-half 2022 Revenue
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2022-08-18
Sheh Fung Screws reported June consolidated revenue at NTD 200 million, although the short-term inventory adjustments by the American clients affected Sheh Fung's shipment and led to a 0.39％ decrease in June consolidated revenue. The consolidated revenue of first-half 2022 reached NTD 1.265 billion, down 12.86% from the same period last year.
The company is cautiously optimistic for the third quarter of 2022, having observed that in the Americas the key accounts' inventory adjustments are coming to a closure. Despite the U.S. interest rate rise which impedes the house purchase market, Sheh Fung is optimistic about the demand for home improvement and renovation in the Americas and maintains the scale of fastener sales in do-it-yourself applications. This is coupled with the demand in construction and the industrial sector to support Sheh Fung to steadily regain orders. The current order book is filled up to 4 months ahead and is expected to create stable future growth.
The company continues its strategy of expanding business in the U.S. and Europe. Meanwhile, it plans to add new equipment before the year end to effectively increase its capacity and reduce the cost.
Sheh Fung Screws
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