Yangzijiang Shipbuilding logs significantly lower Q2 earnings

Singapore

ANALYSTS were divided on the outlook for Yangzijiang Shipbuilding, with the group having posted substantially lower earnings for the second quarter on Wednesday; some pointed to weakening profit margins, and others remarked that the company could benefit from mergers and acquisitions within the shipbuilding industry.

Yangzijiang's net profit for second quarter dived 17 per cent from the previous year to 1.03 billion yuan (S$229.3 million), the group said in a Singapore Exchange filing near midnight on Tuesday.