Auto parts maker Global PMX Co (智伸科) yesterday reported that second-quarter net income jumped 44.99 percent year-on-year to a record NT$141.87 million (US$4.52 million), or earnings per share (EPS) of NT$1.73, due to robust sales growth in its automotive and medical components businesses.
“Auto parts and medical components sales for last quarter grew 11.21 percent and 29.84 percent year-on-year respectively,” Global PMX said in a news release.
The introduction of new automotive products, and better product quality and management efficiency also helped boost profit and sales last quarter, the company said.
Auto parts contributed 73.08 percent of the company’s sales last quarter, while medical components made up 14.03 percent, with electronics for vehicles accounting for 10.98 percent, it said.
In the first half of this year, total net income climbed 30.32 percent to NT$305.56 million, or EPS of NT$3.73, while gross margin increased 0.19 percentage points to 28.24 percent.
“Orders for automotive components are expected to grow in the second half of the year as more alternative-fuel vehicles use the company’s products,” Global PMX said.
More countries have set higher standards for fuel consumption and stricter emission level, which has led to higher shipments of alternative-fuel vehicles in recent years, the company said.
Global PMX is also positive about the business outlook for medical components, such as instruments used in minimally invasive surgery and general surgery, it said.
Separately, Hiroca Holdings Ltd (廣華控股), a China-focused supplier of automobile components, yesterday said it expects the Chinese government to introduce stimulus measures in the next few months, which would hasten the depletion of its customers’ inventories and allow the company to receive more rush orders.
Hiroca said it also hopes to gain more orders from major Japanese and German clients after the summer break.
As customers increase demand for luxury and light-weight cars, sales of in-mold and out-mold auto parts are expected to increase and help lift the company’s gross margin and profit this year, it said.
Hiroca reported revenue for last month dropped 8.73 percent year-on-year to NT$603.51 million, with cumulative revenue of NT$4.13 billion in the first seven months, down 11.91 percent annually.
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