Makalot Ind.'s February Profits Rise Sizably

Makalot Industrial Co., Ltd., Taiwan's leading garment maker, scored pretax profits of NT$158 million (US$5.27 million) in February for a considerable annual rise of 55.8% despite falling a monthly 22.9%, with combined revenues of NT$1.836 billion (US$61.2 million), up 6% from a month earlier.

In the first two months of 2014, Makalot's profits rose to NT$364 million (US$12.13 million), up 40% year on year, with earnings per share of NT$2.15 (US$0.072). With the business climate looking encouraging, the company expects a 20% growth in profits in the first quarter to around NT$5.1-5.4 billion (US$170-180 million).

Thanks to growing orders from clients in the U.S. and Japan, Makalot is optimistic about its performance this year. In January it shipped about 990,000 dozens of garments and the shipment in February ballooned to 1.13 million dozens. A senior manager predicts the shipment to likely reach 12-12.5 million dozens for the full year.

This year Makalot has received a sharp rise of 60% in orders from its U.S. client—Old Navy, and has started to supply a famous sportswear brand—Under Armour, hoping the brand can help it expand into Asia and Europe. (JL)