Yang Ming’s Q1 net profit exceeds US$2 billion
Yang Ming Marine Transport Corporation has reported strong financial results for the first quarter of the year.
The Taiwanese liner operator has announced consolidated revenues of US$3.81 billion, which translates to a 71.32% growth compared with the same period of the previous year. Additionally, the company’s net profit, after tax, reached US$2.16 billion.
“The record results were driven by higher level of freight rates resulting from solid demand, persistent Covid-related port congestion and pre-Chinese New Year cargo rush,” said Yang Ming in a statement.
“Despite the challenging environment, Yang Ming continues to deliver strong quarterly growth and profitability,” added the Keelung-headquartered box carrier.