Freight forwarder Dimerco Express Corp (中菲行) yesterday reported a net profit of NT$300 million (US$10.7554 million) for the first quarter, up 207 percent from a year earlier, thanks in part to higher freight rates.
Earnings per share (EPS) rose to NT$2.38, from NT$0.77 a year earlier, the company said in a statement.
Dimerco, which focuses on strategic logistics planning and execution for the international transportation of goods, attributed the profit growth to higher revenue of NT$6.98 billion in the first three months of this year, up 68 percent from a year earlier.
Revenue from its air and sea cargo forwarding operations expanded 53 percent annually to NT$3.5 billion and 93 percent to NT$3 billion respectively, making up 51 percent and 44 percent of its total sales, company data showed.
However, its first-quarter gross margin fell from 15.95 percent a year earlier to 13.71 percent due to higher operating costs, it said in a filing to the Taiwan Stock Exchange (TWSE).
That was lower than T3EX Global Holdings Corp’s (台驊國際投資控股) gross margin of 18 percent, but higher than Soonest Express Co’s (捷迅) gross margin of 9.75 percent, companies’ data showed.
Soonest, a Taipei Exchange-listed forwarder that mainly concentrates on air cargo forwarding, on Wednesday reported a net profit of NT$48 million for the first quarter, up 50 percent from NT$32 million a year earlier, it said in a filing to the TWSE.
Its EPS grew from NT$1.1 a year earlier to NT$1.6, company data showed.
Soonest’s board of directors on Wednesday approved a proposal to distribute a cash dividend of NT$4 per share, compared with Dimerco’s proposed cash dividend of NT$5.2 and T3EX’s NT$3.2.
T3EX yesterday reported revenue of NT$2.06 billion for last month, up 64 percent from a year earlier, thanks to strong cargo demand as economies recover and freight rates rise in light of the Suez Canal incident in late March, it said in a statement.
Revenue from its sea freight forwarding totaled NT$1.26 billion for last month, up 204 percent from NT$417 million a year earlier, while its air cargo forwarding fell 26 percent year-on-year to NT$467 million, company data showed.
T3EX said it expects freight rates for air and sea cargo to remain comparatively high this quarter.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
LIMITED IMPACT: Investor confidence was likely sustained by its relatively small exposure to the Chinese market, as only less advanced chips are made in Nanjing Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) saw its stock price close steady yesterday in a sign that the loss of the validated end user (VEU) status for its Nanjing, China, fab should have a mild impact on the world’s biggest contract chipmaker financially and technologically. Media reports about the waiver loss sent TSMC down 1.29 percent during the early trading session yesterday, but the stock soon regained strength and ended at NT$1,160, unchanged from Tuesday. Investors’ confidence in TSMC was likely built on its relatively small exposure to the Chinese market, as Chinese customers contributed about 9 percent to TSMC’s revenue last
On Tuesday, US President Donald Trump weighed in on a pressing national issue: The rebranding of a restaurant chain. Last week, Cracker Barrel, a Tennessee company whose nationwide locations lean heavily on a cozy, old-timey aesthetic — “rocking chairs on the porch, a warm fire in the hearth, peg games on the table” — announced it was updating its logo. Uncle Herschel, the man who once appeared next to the letters with a barrel, was gone. It sparked ire on the right, with Donald Trump Jr leading a charge against the rebranding: “WTF is wrong with Cracker Barrel?!” Later, Trump Sr weighed
LOOPHOLES: The move is to end a break that was aiding foreign producers without any similar benefit for US manufacturers, the US Department of Commerce said US President Donald Trump’s administration would make it harder for Samsung Electronics Co and SK Hynix Inc to ship critical equipment to their chipmaking operations in China, dealing a potential blow to the companies’ production in the world’s largest semiconductor market. The US Department of Commerce in a notice published on Friday said that it was revoking waivers for Samsung and SK Hynix to use US technologies in their Chinese operations. The companies had been operating in China under regulations that allow them to import chipmaking equipment without applying for a new license each time. The move would revise what is known
RSS