Guangzhou Shipyard International (GSI) has posted a group revenue of US$740 million for the first three quarters of 2009.
For the nine months ended September 30, 2009, the operating revenue of the group amounted to US$740 million and the net profit attributable to the company amounted to US$59 million, which represented an increase of 5.02 percent and a decrease of 41.01 percent respectively compared with the same period last year.
According to the shipbuilding group, this was mainly due to the rising prices of shipbuilding raw materials and labour cost and increasing in financial expenses.
Earnings per share was US$0.12.
During the third quarter of 2009, the operating revenue amounted to US$281.9 million while the net profit attributable to the company amounted to US$23.8 million, representing increases of 10.61 percent and 6.38 percent respectively compared with the same period last year. Earnings per share was US$0.05.
During the first three quarters of the year, the group completed and delivered ten vessels, launched twelve vessels and commenced construction work for 18 vessels. Moreover, the group secured shipbuilding orders for construction of four vessels.
As at September 30, 2009, the group has accumulated orders for building 57 vessels with a total tonnage of 2.41 million DWT.
