August 5, 2014 / 11:53 PM / in 3 years

Yangzijiang Shipbuilding Q2 net profit jumps 52 pct to record high

SINGAPORE, Aug 6 (Reuters) - China’s Yangzijiang Shipbuilding Holdings Ltd said on Wednesday its net profit for the quarter ended on June 30 rose 52 percent to a record high of 1.24 billion yuan ($201 million) on one-off interest income.

One of China’s best shipyards, Yangzijiang said its revenue in the second quarter eased 3 percent from a year earlier as fewer vessels were delivered in the quarter compared to the same period in 2013.

“The shipbuilding industry continued to exhibit signs of recovery, and the Group continued to witness gradual increase in new shipbuilding prices in tandem with a steady number of vessel newbuild enquires,” the company said in a statement.

$1 = 6.1705 Chinese Yuan Reporting by Rujun Shen; Editing by Paul Tait

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