Yangzijiang 2Q profit jumps, shares hit six-year high

SINGAPORE (Aug 8): China's Yangzijiang Shipbuilding reported a 73% increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels, sending its shares to their highest in more than six years.

Yangzijiang posted a net profit 719.9 million yuan ($107.12 million) for the quarter ended June, boosted by one-off gains, compared with 415.4 million yuan in the year-ago period. Revenue rose 27%, it said in a statement late on Monday.

See: Yangzijiang Shipbuilding reports 73% rise in 2Q earnings to $146 mil

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