07.11.2001
Amtran books strong pretax profit

• Development: Amtran’s 1H01 results booked sales of NT$4.49bn growing 15% YoY, and pretax profit of NT$335m a 118% YoY increase with EPS of NT$ 2.07. The firm has attained 60% of its yearly profit target.

• Analysis: The profit surge was boosted by gross margin improvement and foreign exchange gain. High margin LCD monitor revenue rose to 70% in 1H01 from 55% in 2000.

• Primasia View: The stock trades at 11x on our 2001 EPS. We expect monthly revenue to pick up from September on the back of growing LCD monitor demand.

MarthaChen@Primasia.com +886-[0]2-2547-8878