Taiwan Family Mart posted eye-catching profit growth in March

Taipei, April 17, 2003 (CENS)--Taiwan Family Mart Co., Ltd., the operator of the local Family Mart chain of convenience stores, reaped pretax profit of NT$26.82 million last month, soaring by 304.74% from March last year.

Listed on the local over-the-counter bourse, Taiwan Family Mart garnered N$1.842 billion last month, growing by 7.03% from the NT$1.721 billion posted in March last year. The company brought in cumulative revenue of NT$5.428 billion in the first quarter of this year, going up by 10.03% from the NT$4.933 billion recorded in the same quarter of 2002 and attaining 21.88% of the goal for 2002.

Meanwhile, Taiwan Family Mart raked in three-month pretax profit of NT$62.88 million, a whopping rise of 168.49% from the NT$23.42 million recorded in January-March last year and fulfilling 10.62% of the 2003 target. The company's three-month pretax profit was equivalent to earnings per share of NT$0.37.

Taiwan Family Mart projects revenue of NT$24.80 billion, pretax profit of NT$592 million, and EPS of NT$3.2 based on the capital after ex-right for this year. The company plans to expand its chain to 1,457 stores by the end of this year.