Nan Liu Enterprise Co, Nonwoven manufacturer expects 23 percent growth in revenue this year with higher utilization rate at its Zhejiang factory in China. Last year it recorded the NT$4.57 billion (US$152 million).

Chuang Chun-chin, a finance manager at the Greater Kaohsiung-based company, said that their revenue will reach a higher level this year because of a series of capacity expansions in the second half of last year.

The utilization rate of their new capacity will be at its highest in the second quarter.

Nan Liu reported a record revenue of NT$471.03 million last month, up 9.35 percent from NT$430.74 million a month earlier and 21.62 percent from NT$387.29 million a year ago, according to its filing to the Taiwan Stock Exchange.

Last quarter, the company posted record revenue of NT$1.3 billion, up 16.07 percent from NT$1.12 billion a quarter ago and up 27.45 percent from NT$1.02 billion a year ago, according to the filing.

The company said it aims to maintain its monthly revenue throughout the year, translating into an annual revenue of NT$5.65 billion for this year, up 23.63 percent from last year.