 2009-07-09 |
|
|
YC Reports June Consolidated Revenue of NT$1.125 Billion, Up 119.3% Month-over-Month; Q2 EPS Expected to Exceed NT$1
(Reporter Zhang Zhi-Yao, Taipei)
Packaging materials giant YC (4306 TW) announced today that its self-reported revenue for June was NT$332 million, an increase of 2.56% compared to May. The standalone revenue for Q2 was NT$972 million, down 16.98% year-on-year but up 25.54% from the previous quarter. In terms of consolidated revenue, June saw NT$1.125 billion, reflecting a 119.3% increase over May. The consolidated revenue for Q2 was NT$20.94 billion, up 50.66% from Q1.
YC stated that in addition to stable growth in its plastics core business, the significant growth in June’s consolidated revenue was primarily due to the simultaneous recognition of two projects from its subsidiary, Wangzhou Construction. Currently, due to production issues at newly established petrochemical plants in the Middle East and mainland China, the price of polypropylene has continued to rise to US$1,300 per ton. YC indicated that prices for films and tapes have also been increased to reflect rising costs. Demand remains strong, with order intake going smoothly and visibility high.
Additionally, regarding its subsidiary Wangzhou Construction, YC noted that the "City of the Coast" project, initially expected to start recognizing revenue in Q3, has already met the criteria for revenue recognition in Q2 and is expected to start recognizing revenue in June this year. Analysts estimate that YC's core business performance in Q2 should outperform Q1, and with profit recognition from Wangzhou Construction and Ningbo Yashuo, the after-tax EPS for the quarter is expected to exceed NT$1. |
|
