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HomeMaritime NewsRegionsAsiaU-Ming's Q1 profit retreats

U-Ming's Q1 profit retreats

U-Ming's Q1 profit retreats
Taipei: Dry bulk shipping company U-Ming Marine Transport Corp registered a retreat in its first quarter net profit but revenue climbed.

First quarter net profit for U-Ming dropped 7.4% year-on-year to NT$579.77m ($19.78m) compared to NT$626.26m a year earlier.

Revenue during the period rose to NT$403.85m compared to NT$345.84m in the same period of 2011.

The Taipei-listed company gained NT$639.81m during the quarter from income from long-term equity investments, a decrease from NT$779m recorded a year ago.

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