With new growth momentum from the COVID-19 pandemic, the firm’s net profit this quarter is expected to rise 2 percent on a quarterly basis to also reach a record high, Yuanta said in a client note. The analyst’s forecast came after Sinbon on Friday reported stronger-than-expected financial results for the second quarter. Consolidated sales rose 18 percent quarter-on-quarter and 9.5 percent year-on-year to NT$5.29 billion (US$178.98 million) for the second quarter — Sinbon’s highest in a second quarter, the company reported on Friday. Gross margin increased to 26.3 percent in the second quarter, while operating margin advanced to 12.7 percent, the company said in a statement. Sinbon attributed the better-than-expected results to higher revenue and rising gross margin, coupled with nonoperating investment gains, design service revenue and better control of operating expenses.

Source: Taipei Times July 26, 2020 15:56 UTC