Yangzijiang Shipbuilding Q1 earnings up 38% to 824.1m yuan

YANGZIJIANG Shipbuilding’s first quarter net profit rose 38 per cent to 824.1 million yuan for the three month ended March 31, from 595.1 million yuan a year ago.

Earnings per share rose to 20.88 fen from 14.99 fen the year before. It did not propose a dividend, the same as the previous year. Shares of the company closed flat at S$5.280 on Monday. Meanwhile, revenue from other shipbuilding-related businesses such as logistics and chartering, and ship design services rose 39 per cent to 122.2 million yuan, from 88.1 million yuan previously. The increase was due to charter income from vessels owned by the group’s wholly owned subsidiary acquired in 2018.

Year to date, the group secured a total of US$116 million in contract value for three vessels – a 157,000 DWT oil tanker, a 29,800 DWT self-unloading vessel and a 82,000 DWT bulk carrier.

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