Foxconn profits jump in 2010

Hard working taskmaster Terry Gou is sure to please Foxconn investors in its latest earnings report.

Despite inconveniences like having to pay workers a slightly larger pittance, and provide them with better working conditions, Foxconn has announced a 53 percent rise in consolidated  revenues for 2010.

Figures for the year topped NT$2.99 trillion for 2010, up from NT$77.15 billion.

Net income also went up by 1.9 percent to NT$77.1 billion for the year, while
the company’s gross profit for the twelve months increased by 58.5 percent to NT$100.9 billion from NT$63.6 billion in 2009.  

The company also did well when it came to its earnings per share, with a total of NT$2.22 for the fourth quarter of 2010. This was despite the average gross margin for the quarter dropping 0.1 percent to 7.9 percent.

Foxconn described the year as uncertain and “challenging”.  It however said that despite the general uncertainty the “results were as expected and remain seasonal.”

It also confirmed several new investments in China. According to the Taiwan Economic Daily this includes an interest in investing in solar cell manufacturer Neo Solar Power .