The profit of Yang Ming Marine has soared, and the net profit after tax in the first three quarters exceeded NT$100 billion.
Yang Ming's latest financial report data shows that the company's single-quarter net profit after tax in the third quarter reached NT$ 50.835 billion (about 11.667 billion yuan), a quarterly increase of 47.19%.
In the first three quarters, Yang Ming's operating gross profit was NT$140.582 billion (about 32.265 billion yuan), and its net profit after tax was NT$109.887 billion (about 25.220 billion yuan), compared with only NT$ 1.85 billion yuan in the same period last year.
With the recovery of profits, it will help Yang Ming to improve its financial structure. It is expected that its debt ratio will drop to 50% by the end of this year.
As the current market supply shortage continues to remain unresolved, freight rates remain high, and and the integrated transportation industry will also add a comprehensive rate increase surcharge in December, analysts are further optimistic about Yang Ming in the fourth quarter, the performance is expected to maintain the level of the third quarter, the whole year is quite optimistic.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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