Makalot Industrial Co (聚陽實業) on Tuesday reported that pretax profits in the first half of the year surged 53.09 percent year-on-year to NT$1.11 billion (US$35.72 million), or NT$5.3 per share.
Revenue climbed 26.51 percent to NT$12.9 billion from NT$10.2 billion a year earlier, as it received more higher-margin orders, the apparel supplier said.
“Choosing orders with higher margins was the priority in the first half of the year, as demand continued to outpace supply,” Makalot spokesperson Lin Heng-yu (林恆宇) said yesterday by telephone.
High-margin orders from fashion apparel customers and rush orders diverted from China also helped support revenue and profitability in the first half, the company said.
Overall, rising average selling prices and foreign-exchange gains led profit growth to outpace revenue increase in the first six months, Lin said.
As for the second half of the year, Makalot said it expected to continue to receive high-margin orders and has set a full production schedule for the fourth quarter, suggesting full utilization rates for all factories.
The second half would be better than the first half, and output for this quarter would reach a peak for this year as the industry enters the high season for autumn and winter apparel, the company said.
New customers, such as Hennes & Mauritz AB (H&M), would also help boost sales, it added.
A local brokerage analyst, who asked not to be named, yesterday said that the firm’s orders from Gap Inc are expected to increase between 9 and 10 percent this year, while those from Target Corp, Kohl’s Corp, Walmart Inc, Hanesbrands Inc and some Japanese customers would increase by double-digit percentages.
Makalot chairman Frank Chou (周理平) last month forecast annual output would reach 15 million dozens this year, up 7.14 percent from last year.
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