Gym chain says it can weather losses due to virus curbs – 台北時報

All gyms of the Fitness Factory (健身工廠) chain are to remain closed until Friday next week in accordance with disease prevention measures, Power Wind Health Industry Inc (柏文健康事業), the chain’s operator, said yesterday, citing a COVID-19 level 3 alert in Taipei and New Taipei City.
All other gyms it operates, including Body Workshop (纖養工房), S Klub (兒童體適能俱樂部), Crazy Jump (肖跳), Let’s Roll (滾吧) and Kill Zone (鐳射戰場) gyms, would also remain closed, it said
“The 14-day suspension of all gyms operated by Power Wind will affect revenue for this month,” it said in a regulatory filing, adding that the firm is in “a strong financial condition.”
Photo courtesy of Power Wind Health Industry Inc via CNA
As of March 31, the company’s cash and cash equivalents reserves had reached NT$1.28 billion (US$45.7 million), Power Wind said, adding that it added NT$347.71 million to the reserves in the first quarter.
Contract liabilities, such as pre-paid income of monthly fees and pre-paid income of personal training classes, have for a long time been well-controlled, it said.
“The temporary suspension has no significant influence on the company’s financial condition,” Power Wind said.
Revenue expanded 23.82 percent year-on-year to NT$323.84 million last month thanks to higher recreational sports service sales and athletic health service sales, it said.
Cumulative revenue in the first four months of this year grew 8.82 percent year-on-year to NT$1.24 billion, the filing showed.
However, net profit for the first quarter fell 19.85 percent to NT$90.69 million, from NT$113.15 million a year earlier, while earnings per share dropped to NT$1.28, from NT$1.6 last year, it showed.
Separately on Friday, fitness equipment maker Dyaco International Inc (岱宇國際) reported net profit of NT$268.19 million for the first quarter, compared with NT$3.29 million a year earlier, thanks to surging sales, better expense control and rising capacity utilization of its production bases in Taiwan and China.
Earnings per share were NT$2.1, up from losses per share of NT$0.01 during the same period last year, Dyaco said in a statement.
Gross margin reached 36.05 percent in the first quarter, while operating margin climbed to 8.76 percent, compared with 28.04 percent and minus-0.25 percent a year earlier, the firm said.
Cumulative sales in the first four months of this year climbed 103.35 percent year-on-year to NT$4.83 billion, thanks to a steady increase in sales of equipment of its Sole Fitness, Xterra Fitness and Spirit Fitness brands, as well as strong orders from the US, it said.
Global smartphone shipments are expected to fall 3.5 percent to 1.31 billion units this year, market research firm International Data Corp (IDC) said in a report yesterday, as it reversed downward its previous forecast of an annual 1.6 percent increase. IDC attributed the downward projection to three consecutive quarters of decline in shipments, and increasing supply and demand challenges, the report said. However, the market researcher expects the decline to be a “short-term setback” and retained its five-year compound annual growth rate projection of 1.9 percent through 2026, as it expects the market to rebound next year, it said. “The smartphone industry is
LIMITED EFFECT: The impact on supply chains is easing in Shanghai, chairman Young Liu said, adding that Hon Hai is confident that supply chains are stabilizing Hon Hai Precision Industry Co (鴻海精密), a key iPhone assembler, yesterday said supply chain turbulence in China would improve in the second half of this year as Shanghai lifts COVID-19 restrictions at an orderly pace. The company, based in New Taipei City’s Tucheng District (土城), said “logistics posed a great challenge,” although most of its more than 30 manufacturing campuses in China have not been affected by Beijing’s strict “zero COVID-19” policy and a two-month lockdown in Shanghai. Hon Hai said it has stepped up efforts to arrange workers’ accommodations to maintain normal production under the so-called “closed loop” model. The company
Tourism firms are planning to recruit new workers in the hope that the government would ease or lift border restrictions in the second half of this year. Taiwan has had one of the world’s strictest border controls during the COVID-19 pandemic including a ban on foreign tourists. The nation also required all overseas arrivals to undergo 14 days of quarantine from March 2020 to March this year. The restrictions have led to a considerable decline in overseas arrivals, from 11.86 million in 2019 to 140,479 last year, hurting companies catering to international travelers. The mandatory quarantine period was in March lowered to 10
MediaTek Inc (聯發科), the world’s biggest mobile phone chip supplier, yesterday said it is upbeat about market demand in the long term, driven by accelerating digital transformation worldwide. The company’s comments came in response to shareholders’ concern about chip demand after smartphones and PC sales weakened over the past six months. The outbreak of the COVID-19 pandemic stimulated massive demand for computers, communications and consumer electronics, as people worked remotely and learned from home, MediaTek chairman Tsai Ming-kai (蔡明介) said. “Over the past half year, demand has reduced, as some demand has been satisfied, or because countries in Europe and the US have

source

Leave a Reply

Your email address will not be published. Required fields are marked *

Prev
The 9 Best Diet Plans: Sustainability, Weight Loss, and More – Healthline

The 9 Best Diet Plans: Sustainability, Weight Loss, and More – Healthline

Diets aren’t just for weight loss

Next
Best Motivational Speech Compilation EVER – POWERFUL | 1 Hour of the Best Motivation

Best Motivational Speech Compilation EVER – POWERFUL | 1 Hour of the Best Motivation

You May Also Like