Yangzijiang posts 1% fall in Q3 profit

Singapore

YANGZIJIANG Shipbuilding reported on Friday that its net profit for the third quarter ended Sept 30, 2014, slipped one per cent to 811.19 million yuan (S$172 million) due to lower gross profit, other income and other gains.

Earnings per share were 21.17 fen, compared to 21.42 fen. Revenue, however, rose 2 per cent to 3.74 billion yuan. Shipbuilding-related segment remained its core revenue driver, contributing about 88.4 per cent.

The group's shipyards delivered eight vessels in the third quarter, unchanged from year-ago period. Its outstanding shipbuilding order book s…