China Shipbuilding Industry Posts H1 Profit

2 September 2010 (Last Updated September 2nd, 2010 18:30)

China Shipbuilding Industry has posted a net profit of CNY797m ($116m) for the first half of 2010, up 15.92% compared with the corresponding period a year ago. The shipbuilder said its revenue increased by 4.8% during the time to CNY8.84bn ($1.29bn). Newly signed contracts in the

China Shipbuilding Industry has posted a net profit of CNY797m ($116m) for the first half of 2010, up 15.92% compared with the corresponding period a year ago.

The shipbuilder said its revenue increased by 4.8% during the time to CNY8.84bn ($1.29bn).

Newly signed contracts in the same period, however, fell by 7.1% to CNY11.76bn ($1.72bn) compared with last year, although total contracts reached CNY27.23bn ($4bn) in June.

The shipbuilder’s industrial output reached CNY11.99bn ($1.75bn) in the first half of 2010, up 19.8% over the last year, according to capitalvue.com.