Container shipper Yang Ming Marine Transport Corp reported a record net profit of NT$60.86 billion (US$2.04 billion) in the first quarter, up 148 percent from NT$24.51 billion a year earlier. Earnings per share (EPS) were NT$17.35, up from NT$7.49 a year earlier, it said. The shipper attributed the profit growth to robust cargo demand and .
Taipei, May 16 (CNA) Shares in Taiwan closed higher Monday after a rally on markets in the United States, but the gains were limited amid fears that volatility will return because of anticipated interest rate hikes by the U.S. Federal Reserve, dealers said.
Container shipper Yang Ming Marine Transport Corp (陽明海運) yesterday reported a record net profit of NT$60.86 billion (US$2.04 billion) in the first quarter, up 148 percent from NT$24.51 billion a year earlier.
Earnings per share (EPS) were NT$17.35, up from NT$7.49 a year earlier, it said.
The shipper attributed the profit growth to robust cargo demand and higher freight rates, which pushed revenue to expand 71 percent annually to NT$106.7 billion, it said in a statement.
Yang Ming said its gross profit advanced 142 percent to NT$75 billion and operating profit rose 148 percent to NT$72.3 billion in the first quarter.
Last week,
Taipei, May 11 (CNA) Shares in Taiwan closed lower Wednesday, as market sentiment remained cautious about the United States Federal Reserve's rate hike cycle, which has prompted many foreign investors to move their funds out of the Asian region, dealers said.