Yangzijiang posts 59% fall in 3Q earnings to $58 mil

SINGAPORE (Nov 9): Yangzijiang Shipbuilding Holdings posts earnings of RMB281.2 million ($57.7 million) for 3QFY16, a 59% decline from the earnings of RMB680.7 million in 3QFY15.

Revenue fell 6% to RMB 3.9 billion as revenue from its largest shipbuilding business segment fell 19% to RMB2.7 billion due to the few numbers of vessels delivered during the quarter.

On the other hand, revenue from the group’s trading business rose from RMB375.8 million to RMB874.3 million, and revenue from other shipbuilding related segments rose from RMB55.1 million to RMB81.2 million .

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