 2009-04-30 |
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(Business Today - Taipei)
Domestic packaging materials giant YC (4306) announced today that its Q1 revenue reached NT$775 million, with an operating gross profit of NT$152 million, resulting in a gross margin of 19.57%, a 21.3% increase from 16.14% in the same period last year. The pre-tax net profit was NT$91 million, while the net profit after tax was NT$79 million, down 22.8% compared to NT$103 million in the same period last year, with pre-tax earnings per share (EPS) at NT$0.56.
YC stated that the increase in product prices in Q1 contributed to the record high gross profit. However, the profit contribution from investments recognized under the equity method fell by NT$5.43 million compared to the previous year, primarily due to significant price fluctuations in the Chinese market, leading to disappointing contributions from its subsidiary, Ningbo Asia Plastic Technology.
Regarding the benefits from investments in Asia Chemical, as they are considered long-term investments with unrealized gains, they have not been reflected in the income statement.
Looking ahead to Q2, YC expects continued stable growth in revenue, driven by a successful order-taking process with no disruptions from annual leave affecting shipments. In terms of profitability, not only is the core plastic business expected to continue growing, but this year also marks the peak for revenue recognition from Wangzhou Construction projects, indicating strong quarterly profit performance. Overall, from Q2 onward, both revenue and profits are expected to achieve new highs. |
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