Evergreen’s Profit on the Upturn

Maybe another good sign

Evergreen’s profit on the upturn

Evergreen Marine Corporation recorded TW$11.673 billion (US$382.72 million) in after-tax earnings, or TW$3.81 (US$0.12) in earnings per share, in the first three quarters of this year, exceeding its earnings posted in 2009.

The company will likely challenge the highest earnings recorded in the peak 2005.

The Evergreen group’s three major subsidiaries, including Evergreen Marine, EVA Airways and Evergreen International Storage and Transport, posted TW$23.774 billion in earnings in the first three quarters of this year.

Growth in the worldwide maritime transportation industry led Evergreen Marine to register TW$7.639 billion (US$251 million) in after-tax earnings in the third quarter of this year, after posting an operating loss of approximately TW$10 billion (US$328 million) in 2009.

Maritime transportation services generally drive the group’s earnings growth however the group has experienced increasing sales in both maritime and aviation transportation services since the beginning of 2010.

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