Hon Hai shares jump after strong Q3 profit

Shares of Taiwan’s Hon Hai Precision Industry jumped more than 1.5 per cent early on Wednesday after the main manufacturer of Apple’s products posted a sharp rise in quarterly net profit, boosted by new gadget launches by the California giant.

Hon Hai, the assembler of both iPhone 5 and mini iPad launched in September and October, respectively, started mass production for the products in late August.

The company’s net profit in July-September was T$30.26 billion (US$1.03 billion), up 57 per cent from a year earlier.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1073798/hon-hai-shares-jump-after-strong-q3-profit