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Yangzijiang Shipbuilding's Q4 net profit falls 8%

Published on Feb 27, 2014 4:56 PM

Yangzijiang Shipbuilding (Holdings) said that fourth quarter earnings fell 8 per cent as it delivered fewer vessels.

Net profit for the three months to Dec 31 was 746.3 million yuan (S$156.7 million), down from 807.65 million yuan a year ago.

Revenue fell 5 per cent to 3.38 billion yuan.

Yangzijiang delivered six vessels in the quarter, lower than the 12 delivered in the same quarter in 2012. This was because the company relocated an old yard and temporarily suspended shipbuilding activities at Changbo yard.

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