Fri, Mar 21, 2014 - Page 14 News List

Dimerco eyes sales of US$1bn in five years

By Amy Su  /  Staff reporter

Dimerco Express Group (中菲行國際物流), which offers global freight-forwarding and logistics services, yesterday said that it aims to generate annual sales of US$600 million this year and of US$1 billion in five years’ time.

Last year, the company posted NT$14.17 billion (US$463.24 million) in consolidated revenue, a decrease of 6.1 percent from the 2012 figure.

“This year will be one of many opportunities,” the company’s chief executive Edward Lin (林天送) told reporters yesterday after he was promoted from his former role as chief operating officer.

Paul Chien (錢堯懷) — Dimerco Express’ founder, chairman and one-time chief executive — will remain as the company’s chairman.

Lin said that the recovering global economy is prompting the company to accelerate the pace of its search for more global logistics partners, in addition to merger and acquisition opportunities.

Dimerco Express is looking to invest in 10 companies over the next five years, in a move aimed at enhancing the firm’s consolidated sales so that they pass the US$1 billion-per-year target set for 2019.

Company spokesman Jack Ruan (阮耀樟) said enterprises based in the US, Europe, Southeast Asia and China would be Dimerco Express’ major investment targets.

He added that a deal involving a business in Southeast Asian could be finalized soon.

The Taiwanese logistics firm last year posted a net profit of NT$131 million, or earnings per share of NT$1.02, a decline of 8.4 percent from two years ago.

Even so, the company’s board has decided to distribute a cash dividend of NT$0.72 this year — up 5.08 percent from last year — Dimerco Express said in a statement.

THI Global Holdings Corp (台驊國際投資控股), the nation’s other major freight-forwarder and logistics services provider, posted net income of NT$108.69 million, or earnings per share of NT$1.4, last year, up from the NT$64.61 million, or earnings per share of NT$0.89, recorded in 2012.

THI Global plans to pay a cash dividend of NT$0.77 and a stock dividend of NT$0.33 this year.

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