Wan Hai Slumps to Q1 Loss of $6.6m
Taiwan’s Wan Hai Lines has slumped to a first quarter loss due mainly to a significant loss taken currency exchange differences and a steep fall in operating income, as revenue was largely stable.
Taipei-listed Wan Hai, primarily an intra-Asia carrier, posted a first quarter loss of TWD200.31m ($6.64m) as against the profit of TWD15.22m in the previous corresponding period, MANA correspondent reported.
The unprofitable first quarter was chiefly due to a loss of TWD1.52bn on forex and a much lower operating income of TWD13.71m compared to the year-ago operating income of TWD204.66m.
The quarterly revenue inched down to TWD13.88bn compared to TWD14.05bn in the same period of 2016.