 2009-07-09 |
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(Central News Agency reporter Wei Shu, Taipei)
Packaging materials giant YC (4306) announced today that its June revenue reached NT$332 million, an increase of 2.56% month-over-month. The consolidated revenue for Q2 was NT$20.94 billion, marking a 50.66% increase from the previous quarter. YC reported that its Q2 performance in its core business surpassed that of Q1, and with profit recognition from its subsidiaries, the earnings per share (EPS) for the quarter could exceed NT$1.
In June, revenue of NT$332 million increased from NT$325 million in May, while Q2 standalone revenue was NT$972 million, down 16.98% year-on-year but up 25.54% from Q1. For the first half of the year, cumulative revenue stood at NT$1.747 billion, a decrease of 15.78% from NT$2.074 billion in the same period last year. In terms of consolidated revenue, June saw NT$1.125 billion, up 119.3% from NT$513 million in May. Q2 consolidated revenue reached NT$20.94 billion, a 50.66% increase from Q1.
YC stated that in addition to stable growth in its plastics core business, the substantial growth in June's consolidated revenue was primarily due to the simultaneous accounting of two projects from its subsidiary Wangzhou Construction. Currently, due to production challenges 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, prompting increases in film and tape prices to reflect the rising costs. Demand remains strong, and order intake is going smoothly.
Regarding the subsidiary Wangzhou Construction, the "City of the Coast" project, which was originally expected to start recognizing revenue in Q3, has already met the criteria for revenue recognition in Q2. 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. |
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