Yang Ming Marine Transport Corp (陽明海運) yesterday reported net profit of NT$34.69 billion (US$1.25 billion) for last quarter, compared with a net loss of NT$67.53 million a year earlier, thanks to strong freight rates.
On a quarterly basis, profit was up 41 percent from NT$24.51 billion, it said.
For the first six months, Yang Ming’s net profit was NT$59.2 billion, compared with a net loss of NT$885 million a year earlier, while its gross margin advanced from 5.63 percent to 56 percent over the period.
Photo courtesy of Yang Ming Marine Transport Corp
Earnings per share (EPS) were NT$17.88 in the first half of the year, it said in a filing to the Taiwan Stock Exchange.
It outperformed its local peers, with Evergreen Marine Corp (長榮海運) reporting EPS of NT$15.03, while Wan Hai Lines Ltd (萬海航運) reported EPS of NT$15.19, companies’ data showed.
Evergreen Marine’s second-quarter net profit was NT$42.05 billion, about 13 times higher than the NT$3 billion it made a year earlier, the company said last week.
First-half profit was NT$78 billion, about 28 times more than the NT$2.75 billion it reported a year earlier, it said.
The company’s gross margin was 53 percent for the first six months, higher than 12 percent from a year earlier, data showed.
Wan Hai on Monday posted net profit of NT$33.68 billion for the first half of the year, which was 18 times higher than the NT$1.75 billion a year earlier, while its gross margin rose from 12.62 percent a year earlier to 50 percent, it said in a stock exchange filing.
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