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Business

 

Yangzijiang Shipbuilding to grow other units to deal with shipping cycles

Published on Apr 30, 2014 4:32 PM
 

SINGAPORE - Yangzijiang Shipbuilding (Holdings) has chalked up an 11.4 per cent rise in first quarter net profit to 799.2 million yuan (S$160.2 million).

Revenue for the three months to March 31 was up 24 per cent at 3.55 billion yuan.

Shipbuilding business contributed 63 per cent of total revenue during the quarter, with seven vessels delivered. This compared to the delivery of nine vessels in the same period last year.

Group revenue was effectively supplemented by the expansion of the trading business, accounting for about 34 per cent of total shipbuilding-related revenue.

 
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