YANGMING REPORTS HIGHER HALF-YEAR NET PROFIT

YANGMING REPORTS HIGHER HALF-YEAR NET PROFIT    Taiwan’s Yangming Marine Transport reported a recovery in its results for the first half of the year, with a net income of NT$504 million (US$16 million).
   The half-year result showed an improvement of NT$330 million (US$11 million) when compared to the company’s NT$174-million net result for the same period a year earlier.
   Pre-tax income in the latest six-month period was NT$553 million (US$18 million) , compared to a loss of NT$3.8 billion in the first half of 1999.
   Operating revenue increased by 20 percent, to NT$23.6 billion (US$759 million), from NT$19.7 billion in the first half of last year.
   A spokesman for Yangming said that the improved financial results were due mainly to non-operating items such as securities.