Yangzijiang Shipbuilding's Q4 profit soars 84%

Singapore

YANGZIJIANG (YZJ) Shipbuilding's fourth-quarter net profit rose 84 per cent year-on-year to 1.25 billion Chinese yuan (S$252 million) for the three months ended Dec 31, 2018, helped by favourable foreign exchange gains.

A final dividend of five Singapore cents per share was proposed, up from 4.5 Singapore cents for 2017. YZJ Shipbuilding shares closed at S$1.44, up S$0.01 or 0.7 per cent after results were announced early Friday.

Gross profit margin improved to 18.2 per cent from 14.9 per cent in the same period a year earlier, due mainly to higher interest income from financial assets held to maturity. Foreign exchange gains, lower administrative expenses and…