Elevator supplier Golden Friends Corp (崇友實業) yesterday posted NT$330.48 million (US$11.62 million) in revenue for last month, a 38.7 percent rise from a month earlier, amid continued recovery in the local property market, although the figure fell 15.15 percent from a year earlier.
Revenue in the first quarter totaled NT$1.03 billion, a 3.66 percent increase from a year earlier, Golden Friends data showed.
Replacement of old elevators rose 16.35 percent, accounting for 24.69 percent of overall installments, or 500 elevators, in the January-to-March period, the Taipei-based company said in a statement.
Photo: Lin Jing-hua, Taipei Times
Its maintenance and repair business serviced 37,100 elevators and escalators in the quarter, an increase of 4 percent from a year earlier as government agencies and companies become more aware that elevators play an important part in building safety, it said.
Golden Friends is upbeat about its business going forward, even though developers might turn cautious following a spate of unfavorable policies to cool the property market, as real demand for housing and office space remains, the company said.
Firms shifting manufacturing facilities home from China would also lend support to its business, it said.
Contracts on hand so far this year have spiked 18.05 percent from the same time a year earlier, laying a healthy foundation for business in the short to medium term, Golden Friends said.
It intends to boost its market share by spending more to improve the ease and convenience of elevator rides, helped by the latest technologies, it said.
Last month, Golden Friends proposed a cash dividend of NT$3 per share based on its net income of NT$726 million last year, or earnings per share of NT$4.1.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook
RSS