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China Shipbuilding Industry's profit up 8.9% in 2011

Apr. 11, 2012 (China Knowledge) – China Shipbuilding Industry Co Ltd<601989>, the country's largest shipbuilder, announced yesterday that its net profit attributed to shareholders climbed 8.9% year on year to RMB 4.71 billion last year.

In 2011, the shipbuilder saw its operation revenue reached RMB 58.05 billion, reflecting a year on year increase of 7.3%.

Basic earnings per share were RMB 0.32 for last year and the company proposed a final dividend of RMB 0.68 per ten shares.

At the end of last year, the company had RMB 160.19 billion in total assets with debt/asset ratio of 74.43%.

Last year, China Shipbuilding completed the acquisition of four companies including Dalian Shipbuilding Industry Co, Beihai Shipbuilding Heavy Industry Co, Qingdao Beihai Shipbuilding Heavy Industry Co and Shanhaiguan Shipbuilding Industry Co, source reported.

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