China’s Yangzijiang Shipbuilding Q2 net profit falls 17%
By: Reuters | Aug 04 2015 at 08:01 PM | Liner Shipping
SINGAPORE - China’s Yangzijiang Shipbuilding Holdings Ltd reported late Tuesday that its second-quarter net profit fell 17 percent on a year earlier even as revenue jumped, due to the construction of vessels with lower profit margins.
Yangzijiang, the most profitable listed yard in China, posted a net income for the quarter ended June 30 of 1.03 billion yuan ($165.9 million). Revenue of 5.7 billion yuan was up 34 percent from a year earlier.
($1 = 6.2086 Chinese yuan)