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Yang Ming back in black, returns to profitability if first 9 months
TAIWAN'S Yang Ming Marine Transport posted a year-on-year third quarter net profit of TWD$1.4 billion (US$45.6 million), but quarterly revenue figures were not readily available.
The company went into the black for the first nine months of the year, supported by cost control and lower bunker prices.
The Taipei-listed container carrier recorded net profits of TWD$63.8 million from January-September, compared to TWD$4.3 billion in the prior year period.
"The third quarter is the traditional high-demand season. Despite a supply overhang, we have continued to optimise our resources distribution and improve operational strategy to meet market requirement," a company statement said.
"The continued fall in international oil prices also helped us reduce operational costs," Yang Ming said
Operating profit was up 11.6 per cent year on year to TWD$99.8 billion in the nine months period.
The company went into the black for the first nine months of the year, supported by cost control and lower bunker prices.
The Taipei-listed container carrier recorded net profits of TWD$63.8 million from January-September, compared to TWD$4.3 billion in the prior year period.
"The third quarter is the traditional high-demand season. Despite a supply overhang, we have continued to optimise our resources distribution and improve operational strategy to meet market requirement," a company statement said.
"The continued fall in international oil prices also helped us reduce operational costs," Yang Ming said
Operating profit was up 11.6 per cent year on year to TWD$99.8 billion in the nine months period.
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