Namchow posts increased net profit of NT$92.11mBy Chen Cheng-hui / Staff reporterBaking oil manufacturer Namchow Holdings Co Ltd (南僑投資控股) yesterday reported an unaudited net profit of NT$92.11 million (US$3.32 million) for last month, up from the previous month’s NT$57 million, but down from NT$104 million a year earlier. The firm — which also manufactures a wide range of products including frozen dough, noodles, ice cream and dish soap — blamed the annual decline in net profit on it receiving less investment gains from its Shanghai subsidiary, Namchow Food Group (Shanghai) Co (上海南僑食品集團). Earnings per share (EPS) were NT$0.42 last month, while revenue grew 2.24 percent annually to NT$1.66 billion, the company said. Namchow Holdings Co Ltd chairman Alfred Chen displays the company’s products at a bakery exhibition in Taoyuan on April 21. They have increased 3.09 percent so far this year, underperforming the broader market’s 17.27 percent rise over the period.

Source: Taipei Times September 20, 2021 15:56 UTC