SINGAPORE: Yangzijiang Shipbuilding said its net profit rose 114 per cent in the first nine months of its financial year to 1.2 billion yuan or S$260 million. Revenue grew in tandem, doubling to 5.5 billion yuan.

The firm said the growth in its numbers was due to the construction of larger, higher margin ships.

As of September this year, Yangzijiang's order book stands at 164 vessels for a total value of about S$11 billion.

The company also said it has not seen any customers cancelling their orders to date.

Yangzijiang delivered 18 vessels in the first nine months of the year, with another three in October.


- CNA/so