CSSC Offshore & Marine Engineering's H1 Profit Swells More than Tenfold

MT Newswires Live08-30

CSSC Offshore & Marine Engineering's (HKG:0317, SHA:600685) attributable profit ballooned 1,059% to 146.8 million yuan in the first half from 12.7 million yuan in the year-ago period, according to a Thursday filing with the Hong Kong Stock Exchange.

Earnings per share at the Chinese shipbuilder soared to 0.1039 yuan from 0.009 yuan in the previous year.

Operating income grew 46% to 8.73 billion yuan from 5.98 billion yuan a year earlier.

The company declared an interim dividend of 0.12 yuan per 10 shares or 0.012 yuan per share, payable Nov. 22. The record date is yet to be announced.

Shares closed 3% lower in Hong Kong during Friday trading.

Price (HKD): $13.86, Change: $-0.40, Percent Change: -2.81%

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