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Yangzijiang amasses 52% more profits
It has won the most new orders among Chinese yards.
Despite a marginal 3% fall in revenue, shipbuilding company Yangzijiang reported an attractive quarter with a significant increase in profits.
A report by OCBC reveals that Yangzijiang’s net profits increased by 52% to RMB1.24 billion as gross profit margin remained healthy at 27.7% vs. 27.5% in 2Q13.
According to the group, YZJ has won the most new orders among all the Chinese yards since the start of this year.
The OCBC report says that YZJ intends to refocus on its core shipbuilding business and redirect resources from its non-shipbuilding businesses.
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