Yulon Motor posts highest net profit in a decade
REBOUNDING MARKETS:
Yulon Motor Co said that first-quarter sales in China rose 75.6 percent to 6.48 million units, with sales this year likely to hit 26.3 million units
By Lisa Wang / Staff reporter
Yulon Motor Co (裕隆汽車) yesterday reported net profit of NT$1.36 billion (US$48.58 million) for last quarter, the highest in about a decade and up sixfold from NT$197.23 million a year earlier, as auto sales in China and Taiwan rebounded from a deep COVID-19 slump last year.
Yulon said that operating profit surged to NT$1.85 billion, up from NT$616 million a year earlier, or earnings per share of NT$1.39, from NT$0.13 last year.