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U-Ming sees Q1 profit chopped
Taiwan-based U-Ming Marine Transport Corp saw its first quarter net profit chopped as revenue tumbled and operating costs remained high.
1 Min Read
Kalyakan - stock.adobe.com
The Taipei-listed company reported first quarter profit of NT$197.53m ($6.63m), a plunge of 66.3% from NT$585.57m in the same period of 2012.
Revenue for the dry bulk shipping firm also dropped to NT$1.58bn from NT$2.08bn a year ago.
Operating expenses were recorded at NT$1.57bn, down from NT$1.64bn a year earlier while operating profit slipped to NT$55.16bn compared to NT$367.84m last year.
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