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Yang Ming beats its own targets.
(From Lloyds List)
Byline: Sam Chambers in Hong Kong
YANG Ming Marine Transport Corp comfortably surpassed its own revised annual target to register successive back-to-back record financial years.
The Taiwanese line's unaudited results show its 2004 net profit leapt 48% to T$9.81bn (US$300m) from T$6.65bn in 2003. Earnings per share increased 24% to T$4.60 compared with T$3.70 in 2003.
In early November, the Keelung-headquartered line had issued a statement revising its net profit forecast upward from T$7.21bn to T$9.27bn.
In the final quarter, the company, which is a member of the Asian alliance dubbed the CKYH Group, saw net profit zoom up 52% to T$2.79bn while its revenues for that quarter increased 23% to T$21bn.
Yang Ming's shares, trading in Taipei, hit a nine-day high, up 1.8% to T$29 at the close of trading yesterday.
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