La Kaffa profit surges 150%
La Kaffa International Co (六角國際), which owns bubble milk tea brand Chatime (日出茶太), yesterday reported that net income last quarter surged 150.31 percent and operating income increased 87.9 percent to NT$127 million and NT$193 million (US$4.17 million and US$6.34 million) respectively. Earnings per share reached NT$3.18, the highest for a single quarter in the company’s history, it said, adding that revenue rose 24.29 percent to NT$1.37 billion from a year earlier. La Kaffa attributed the strong results to stable store expansion, partnerships with food delivery services and better control of operating expenses. In the first three quarters of this year, earnings per share rose to NT$7.72, the highest ever for the period.
Chlitina revenue up on China
Chlitina Holding Ltd (麗豐), which makes and sells cosmetics and skincare products, yesterday said that a steady increase in the number of its beauty salon franchises in China last month boosted revenue by 7.26 percent year-on-year to NT$441.33 million. Revenue also grew on the back of seasonal demand and effective marketing of its products, Chlitina said in an e-mailed statement. Worldwide, the company operates 4,793 franchisees, a net increase of 314 from the end of last year, the company said. In the first 10 months of the year, cumulative revenue grew 14.02 percent to NT$4.16 billion from a year earlier, it said.
Flooring maker profit rockets
Flooring supplier M.J. International Co Ltd (美喆) yesterday reported that net income last quarter surged 45.29 percent year-on-year to NT$75 million, or earnings per share of NT$1.14, while revenue rose 14.04 percent annually to NT$830 million, which it attributed to higher factory utilization amid growth in its original design manufacturing and brand-name businesses. Thanks to a better product mix and higher factory utilization, gross margin climbed 4.06 percentage points to 26.4 percent and operating margin improved 4.58 percentage points to 13.41 percent, the company said in a statement.
Eclat, Makalot revenues fall
Major textile and garment manufacturers Eclat Textile Co (儒鴻) and Makalot Industrial Co (聚陽) yesterday reported lower revenue for last month, but both said that revenue for this quarter would still grow annually, with sales growth to accelerate next year. Eclat’s revenue decreased 1.98 percent year-on-year to NT$2.65 billion, but cumulative revenue in the first 10 months of the year rose 1.35 percent to NT$23.03 billion, it said in a regulatory filing. Makalot also saw revenue drop 0.35 percent annually to NT$2.24 billion, while cumulative revenue from January to last month increased 13.77 percent to NT$22.84 billion from a year earlier, it said in a separate filing.
Acer net profit jumps 29%
Acer Inc (宏碁) on Tuesday posted net profit of NT$1.18 billion for last quarter, a 29.05 percent increase from NT$912 million in the same quarter last year. Earnings per share rose from NT$0.3 to NT$0.39, the highest in eight quarters. The company attributed the increase to higher nonoperating income, which soared from NT$17 million to NT$790 million over the period. However, revenue declined 3.8 percent to NT$62.87 billion. Acer said that it is continuing to develop its multi-business strategy through its subsidiaries.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
‘LITTLE CHOICE’: The airline said it expected only about 8,000 of its 29,000 employees to be working by next month, but hoped to have 21,000 in the next two years Qantas Airways Ltd plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs as Australia’s largest airline tries to survive the coronavirus pandemic. Qantas yesterday announced a plan to reduce costs by billions of dollars and raise fresh capital. The plan includes grounding 100 planes for a year or more and immediately retiring its six remaining Boeing Co 747 planes. Chief executive Alan Joyce said the airline has to become smaller as it braces for several years of much lower revenues. He said the furloughed workers faced a long interruption to their airline careers. “The actions that we’re taking
Apple Inc’s decision to stop using Intel Corp processors in its Mac computers and switching to its own chips might benefit Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and boost Taiwan’s high-tech exports, Australia and New Zealand Banking Group (ANZ) said in a note on Tuesday. The US tech giant announced the “Apple silicon” initiative at its annual Worldwide Developers’ Conference, which started on Monday. The company said the first Mac powered by its own chips would debut by the end of this year and all product lines might shift to the new architecture in the next two years. TSMC is likely to
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price