China gloom outweighs overseas sales pick-up at Yongmao

Singapore

OVERSEAS growth was not enough to stem a sharp slide in the domestic Chinese market of crane-maker Yongmao Holdings.

The company reported a net profit of 12.4 million yuan (S$2.6 million) for its second quarter ended Sept 30, 2014, down 16.3 per cent from 14.9 million yuan a year ago.

Yongmao had reported a higher consolidated net profit due to higher margins, but a higher amount was due to minority int…