 2009-07-29 |
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(Central News Agency reporter Wei Shu, Taipei)
Packaging materials giant YC (4306) announced today that its consolidated revenue and profits for the first half of the year were NT$3,483,130,000, with an operating profit of NT$373,713,000 and pre-tax profit of NT$351,114,000, resulting in earnings per share (EPS) of NT$2.14, demonstrating impressive profitability.
YC stated that since the mass production of its film production line last year, both revenue and profits have significantly increased. Despite facing the financial crisis last year, the company still delivered a post-tax EPS of NT$3.13. Even though the overall economy has not yet fully recovered from the recession, the half-year report still shows an impressive profit level of NT$2.14 per share.
YC pointed out that its steady profit growth is primarily due to the contributions from its core plastic business and its investments in the construction industry as dual engines of growth. Looking ahead, these two sectors will continue to develop and will contribute to the group's growth momentum over the next three years.
In the plastic sector, YC is implementing the addition of a film production line in Ningbo, China, this year and plans to add another line in Taiwan next year, which will gradually contribute to revenues in 2010 and 2011. Starting next year, the group's consolidated revenue is expected to reach NT$10 billion.
The company estimates that once the two production lines are completed, YC's film output will rank among the top ten globally, making it the world's largest vertically integrated packaging materials manufacturer.
In terms of its investments in the construction industry, YC plans for its subsidiary, Wangzhou Construction, to launch a project on a 1,838 ping (approximately 6,078 square meters) plot of land in Neihu next year, which will result in significant asset appreciation. Analysts estimate that with the current price of NT$500,000 per ping, total sales could reach NT$3.75 billion, contributing substantial profits for YC. |
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