Pan-United

Pan-United: 1Q14 net profit declined 5% y/y to $9.7m, despite revenue gain of 7% to $178m, as the bottom line was affected by the increase in raw material costs due to the temporary disruption of granite supply from Indonesia and higher finance costs from the acquisition of Changshu Changjiang International Port. Meanwhile, top line growth was broad-based, with basic building resources higher on firmer average selling prices, port segment grew from an increase in cargo volume handled and increased trading activities in the shipping business.