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 Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

Two Mooring Tugs Delivered to NSW

Nakilat Damen Shipyards Qatar (NDSQ) has delivered two new Qatari-built mooring tugs to towage operator Nakilat SvitzerWijsmuller (NSW).   The delivery of the

Tank Coating for Navig8 Chemical Carrier Newbuilds

Shipowner Navig8 is progressing application of Interline9001, an advanced cargo tank coating from AkzoNobel’s International marine coating product range, on a series

Coatings & Corrosion

Tank Coating for Navig8 Chemical Carrier Newbuilds

Shipowner Navig8 is progressing application of Interline9001, an advanced cargo tank coating from AkzoNobel’s International marine coating product range, on a series

New Tool for Recovering Oil from Sunken Wrecks

A tool for removing oil trapped in submerged vessels has been developed in Norway by design specialists Miko Marine.   The launch of the Moskito aims to address

Editorial: Gettin’ Crabby with Deadliest Catch

As February is our traditional cruise shipping edition, naturally we’ve selected a fishing boat and two crabs for the cover. But as many of you may already know,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0863 sec (12 req/sec)