Yang Ming Marine Transport Corp (陽明海運) yesterday reported a net profit decline of 2.1 percent to NT$49.75 billion (US$1.56 billion) for the third quarter of this year, marking the lowest quarterly result this year.
The company in a statement attributed the year-on-year decline to surging inflation, Russia’s invasion of Ukraine and logistics disruptions.
Third-quarter revenue grew 4.5 percent year-on-year to NT$99.81 billion, but the pace of the increase was down from high double-digit percentage growth in the first half of this year, company data showed.
Photo courtesy of Yang Ming Marine Transport Corp
Earnings per share were NT$14.25, compared with NT$15.9 in the second quarter and NT$17.35 in the first quarter.
In the first three quarters, net profit grew 51 percent year-on-year to NT$165.85 billion, with earnings per share of NT$47.5.
“With the uncertainty in global politics and the economy, we hold a cautious outlook for the fourth quarter,” Yang Ming said.
Separately, Evergreen Marine Corp (長榮海運), Taiwan’s largest sea shipper in terms of fleet, reported quarter-on-quarter flat net profit for the third quarter, saying that it was unaffected by lower freight rates and industry headwinds.
Year-on-year, third-quarter net profit rose 26 percent to NT$100.7 billion, compared with the previous quarter’s NT$102.3 billion and NT$101.3 billion in the first quarter, company data showed.
However, rising operating costs pushed down its gross margin to 66.37 percent last quarter, from an average of 69 percent in the first half of the year.
Cumulative net profit was NT$304.35 billion in the first three quarters, up 92 percent year-on-year, with earnings per share of NT$68.88, it said.
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