JES International's Q4 loss increases to 222.48m yuan

Singapore

CHINESE shipbuilder JES International's loss widened to 222.48 million yuan (S$49.34 million) in the fourth quarter ended Dec 31, 2014, compared to a loss of 182.28 million yuan in the corresponding three months a year ago.

Revenue for Q4 2014 fell 1.5 per cent to 50.14 million yuan, compared to 50.92 million yuan in Q4 2013. This was due to a slowdown in production activities, and the reversal of revenue following the cancellation of two contracts in H1 2014 (previously recognised in Q4 2013).