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China Shipbuilding Industry's H1 profit down 27%

Aug. 29, 2012 (China Knowledge) - China Shipbuilding Industry Co Ltd<601989>, the country's largest shipbuilder, has announced its net profit attributable to shareholders decreased 26.82% YoY to RMB 2.57 billion in the first half of this year, according to a statement filed with Shanghai Stock Exchange.

Basic earnings per share for the period were RMB 0.18, 25% lower than it realized in the corresponding period of last year.

From January to June, the company earned RMB 29.19 billion in operation revenue, reflecting a YoY decrease of 8.7%.

Revenue from its ship manufacturing and related services dropped 35.3% YoY to RMB 12.16 billion in the six-month period, while those from ship-repair and conversion business grew 51.92% YoY to RMB 1.28 billion.

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