China State Shipbuilding Co sees an 81% rise in first half net profits

China State Shipbuilding Co has seen an 81% rise in first half net profits to Yuan1.95bn on the back of strong demand for parts and maintenance services and last year's acquisition of Waigaoqiao Shipbuilding. Sales were strong, with revenue up 40% to Yuan7.7bn, although profit margins in shipbuilding dropped to 19.42% from 26.44% due to material costs and a fall in value of the US dollar.

Source: http://www.mglobal.com