Guangzhou’s 2005 Net Pft to Rise Over 40%

Thursday, January 26, 2006
Hong Kong-listed Guangzhou Shipyard International Co. expects its 2005 net profit rose more than 40% on improved profitability in shipbuilding and a writeback of provisions. The company's net profit for the year ended December 2004 totaled $7.6 million. In a statement to the Hong Kong stock exchange, Guangzhou Shipyard attributed the expected increase in 2005 earnings to higher ship prices and cost control measures. It said it expects gross margins in the shipbuilding business to be higher in 2005 than in 2004. The company's board of directors also approved a writeback of about $3 million of provisions made for bad debt, which will be included in the 2005 consolidated profit and loss account. Guangzhou Shipyard is 43%-owned by state-owned China State Shipbuilding Corporation. (Source: Yahoo!)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

SCHOTTEL Debuts EcoPeller with High-torque Gears

Propulsion and steering systems manufacturer SCHOTTEL has unveiled its new EcoPeller (SRE), which it said offers improved efficiency and robustness. Playing a

Fincantieri Delivers Carnival Vista

Carnival Vista, the new flagship of the fleet of Carnival Cruise Line, brand of the Carnival Group, was delivered today at Fincantieri’s shipyard in Monfalcone.

Coatings & Corrosion

Hempel’s Fouling Defence Product Hempaguard Applied to 500 Vessels

Leading marine coatings manufacturer, Hempel, announces - after only two and a half years on the market -  its award winning innovative fouling defence product

Torqeedo to Showcase Cruise Engine at Seawork

Torqeedo will debut its innovative new electric motor at this year’s Seawork International.   The new generation, the Cruise 10.0R, is equivalent to a 20HP combustion engine.

AkzoNobel Debuts Intershield

AkzoNobel’s Marine Coatings business has launched a best-in-class anticorrosive universal primer, Intershield One-2-One, which delivers simplified maintenance,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0599 sec (17 req/sec)