Manufacturing News

Hon Hai Aims for 15% Revenue Growth in 2011

Optimistic about Taiwan's economic prospects for 2011, Hon Hai Precision Industry Co., Ltd.'s chairman Terry Guo noted that his firm aims to generate sales of over NT$2.6 trillion in the year, for a growth of 15% at least from 2010.

Guo mentioned that Hon Hai's aggregate sales for the first 11 months of 2010 totaled NT$2.068 trillion, markedly up 60.66% from a year earlier, and is estimated to total about NT$2.27 trillion for entire the year. As the revenue upturn will hopefully be kept throughout 2011, he stressed, his firm will very likely achieve revenue growth of over 15% in the year.

In fact, Guo admitted when interviewed by foreign new agencies a few days ago that he decided to reduce his firm's revenue growth projection to only 15% for 2011 from 30% in each of the past few years; but made clear that the 15% growth is the least his firm is surely to reach, also emphasizing the projection cut makes sense and reflects Hon Hai's corporate responsibility and honesty to shareholders, considering the firm will probably see growth slowdown in the coming years after several years of very rapid growth.

Facing lingering appreciation of New Taiwan dollars against the greenback, which undermines Taiwanese export-dependent enterprise performance, Guo also indicated that managers must find ways to counter such trend, instead of doing nothing but merely counting on the government's currency protection.

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