Dimerco Express Group (中菲行國際物流) yesterday reported its net income in the first six months of the year nearly tripled from the same period last year, on the back of its focus on clients with steady demand as well as a cost-control strategy.
Dimerco Express, which offers global freight-forwarding and logistics services, posted NT$134 million (US$4.46 million), or NT$1.04 per share, in net profit in the January-to-June period, an increase of 177.2 percent from the level of NT$48 million recorded in the same period last year, the company said in a statement.
Meanwhile, the company’s profit recorded in the first six months of this year has already been higher than the net income of NT$131.48 million it generated for the whole of last year.
“The company has strengthened development of multinational clients by establishing more bases globally, which helped raise the consolidated sales and profitability,” company spokesman Jack Ruan (阮耀樟) said in the statement.
In addition, Dimerco Express’ strategy to appropriately control its operating expenses has boosted the company’s profit ratio during the January-to-June period to 1.9 percent, from 0.8 percent recorded a year earlier, Ruan added.
Last month, the company edged into the Asia-Pacific region with a joint venture in Cambodia and various wholly owned subsidiaries in Australia.
The development plan in the two markets is part of the group’s globalization plan — unveiled by Dimerco Express Group chief executive officer Edward Lin (林天送) — to raise annual consolidated sales from US$467 million last year to US$600 million this year.
Dimerco Express posted NT$8.9 billion in consolidated revenue in the first seven months of the year, up 12.28 percent from the same period last year, according to the company’s filing with the Taiwan Stock Exchange.
In related news, Wisdom Marine Lines Co (慧洋海運), a major bulk shipper in Taiwan, has posted NT$902.15 million, or NT$1.96 per share, in pre-tax profit for the first seven months of the year.
This was down 7.03 percent from a year earlier, the company said in a statement.
Consolidated sales totaled NT$5.08 billion from January to last month, an increase of 5.77 percent from the same period last year, company data showed.
The company has planned to take delivery of five new vessels this year, with five yet to be delivered, to raise its fleet scale to 91 ships by the end of the year.
Wisdom Marine has signed long-term rental contracts for all of the new ships, with the average gross margin standing at 48.86 percent this year, helping maintain the company’s earnings momentum, the statement said.
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