Sat, Oct 29, 2011 - Page 12 News List

Uni-President profit dips on investments

By Kevin Chen  /  Staff Reporter

Uni-President Enterprises Corp (統一企業) yesterday reported that net profits for the first nine months of the year fell 21.9 percent from a year earlier, mainly because lower investment income pared gains from food and beverages sales.

The Greater Tainan-based company, whose President Chain Store Corp (統一超商) and Uni-President China Holdings Ltd (統一企業中國控股) are its major earnings sources, said net profits in the first three quarters totaled NT$7.74 billion (US$259.1 million), or NT$1.7 per share, down from NT$9.91 billion, or NT$2.31 per share, a year earlier.

Given that it made a net profit of NT$4.68 billion in the first half, that meant third-quarter net income came in at NT$3.06 billion, up from NT$2.41 billion in the previous quarter and NT$2.27 billion in the first quarter.

January-to-September revenues totaled NT$39.9 billion, rising 8.39 percent from NT$36.81 billion in the same period last year. Uni-President attributed the growth to increases in sales of dairy products, tea drinks and bakery products, a company statement said.

However, its gross margin dropped to 23.28 percent from 23.88 percent a year earlier, the statement said.

President Chain, the operator of 7-Elevens, also reported that net profits increased 10.75 percent to NT$5.46 billion, or NT$5.25 per share, in the first nine months, from NT$4.93 billion, or NT$4.74 per share, a year earlier, while revenue totaled NT$90.73 billion, up 6.13 percent from NT$85.49 billion a year ago.

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