The Taipei-listed bulker owner said it madeTWD 254.15m ($8.52m) on a net basis to 31 March, compared to TWD 263.84m in thesame period of 2012.

Revenue slipped to TWD 668.38m from TWD840.73m, while operating costs were TWD 548.93m, against TWD 521.66m the yearbefore.

But sales of ships and property liftednon-operating gains to TWD 166m, from a loss of TWD 11m in 2012.