On March 19, Yang Ming Marine announced its earnings report for January, showing that its revenue for the month hit a new record, and its profit increased nearly 30 times compared with the same period last year. The total revenue of the first two months has surpassed that of the first quarter of last year.
 
Yang Ming Marine created a record monthly revenue of NT $20.446 billion in January, the company said.
 
Net profit after tax reached NT $7.48 billion (1.714 billion yuan), up 2976.92% year on year and up from NT $5.07 billion in December alone. Earnings per share reached NT $2.32, an increase of 2178.67% over the same period last year.
 
In addition, in February this year, the operating revenue of Yang Ming reached NT $20.828 billion (about RMB 4.774 billion), an increase of 1.2 times compared with the same period last year, and an increase of NT $400 million compared with January, setting a new record for a single month.
 
The cumulative consolidated revenue of the first two months was NT $41.275 billion (about RMB 9.460 billion), an increase of 74.85% year on year, which was higher than the first quarter of last year.
 
The strong performance has driven Yang Ming's share price up since early February, closing at a 16-year high of NT $32.60 on March 19.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.