Yang Ming’s net income rose 46% in 2004

Yang Ming’s net income rose 46% in 2004    Yang Ming Marine Transport raised its net income 46 percent to NT$9.8 billion ($308 million) in 2004, from NT$6.7 billion in 2003.
   The improved results represent the second consecutive year of substantial increases in profitability at the Taiwanese shipping line, as it benefited from a strong market in its core container shipping business.
   Yang Ming’s pre-tax profit for 2004 was NT$11.8 billion ($371 million), ahead of its forecast profit of NT$11.1 billion ($337 million) made in November.
   The company’s operating income increased 30 percent to NT$5.8 billion ($182 million) from NT$4.5 billion in 2003. This translates into an operating margin of 7 percent of revenues for 2004, up from 6 percent in 2003.
   Yang Ming, which recently said it plans to order 8,200-TEU containerships, reported its revenue rose 24 percent to NT$78.3 billion ($2.5 billion) from NT$62.9 billion in 2003.