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Wan Hai 9-month profit up 297pc to US$115 million as revenue rises 10pc

INTRA-ASIA carrier Wan Hai Lines posted a year-on-year 297 per cent net profit increase to TWD3.5 billion (US$115.2 million) for the first nine months of 2014, drawn on revenues of TWD49 billion, up 10 per cent.

Wan Hai 9-month profit up 297pc to US$115 million as revenue rises 10pc
17 November 2014 - 23:12
Wan Hai 9-month profit up 297pc to US$115 million as revenue rises 10pc

INTRA-ASIA carrier Wan Hai Lines posted a year-on-year 297 per cent net profit increase to TWD3.5 billion (US$115.2 million) for the first nine months of 2014, drawn on revenues of TWD49 billion, up 10 per cent.

Meanwhile the Taiwanese carrier's operating profit increased 245 per cent to TWD3.8 billion over the first three quarters year on year. Operating costs were up 4.4 per cent at TWD42.6 billion.

Separately, the Wan Hai board voted to establish a joint venture with Shanghai International Port Group (SIPG) in the Shanghai Free-Trade Zone, reported Lloyd's List.

A company spokesman confirmed the 50:50 venture could focus on logistics and e-commerce, but added its actual areas of business were still under discussion.

The venture, which will have an initial paid-in capital of CNY100 million (US$16.3 million), will have a chairman appointed by Wan Hai and a president appointed by SIPG.

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