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HomeMaritime NewsRegionsAsiaU-Ming suffers fall in 2011 net profit

U-Ming suffers fall in 2011 net profit

U-Ming suffers fall in 2011 net profit
Taipei: Dry bulk shipping firm U-Ming recorded a massive fall in 2011 net profit as revenue dipped and investment returns shrank.

The Taiwanese bulker owner posted net profit of NT$2.73bn ($92.38m) last year, a plunge of 59.1% from NT$6.67bn seen in 2010. Revenue also fell to NT$1.59bn compared to NT$1.97bn a year ago.

Income from equity investments was slashed to NT$3.05bn from NT$6.31bn a year earlier.

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