Sheh Fung Revenues Down 25.64% in May, but First 5 Months Cumulative Revenues up 8.87%
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On May 6, Sheh Fung Screws reported its May revenues at NTD 142 million, down 25.64% over May 2019. The company explained this was mainly attributed to the coronavirus pandemic in the U.S. and Europe, which influenced the arrangements of delivery.
Additionally, increased new product delivery in May 2019 raised the comparative basis and this is the main cause for the lower revenues in May 2020. Nevertheless, the company still benefits from clients' increased purchase and sees its revenues in the first 5 months reach TWD 812 million, up a record 8.87% over the previous period. The American and European clients' increasing demand for fastener stocking will keep the impetus for Sheh Fung's business operation.