CSSC Offshore & Marine Engineering Projects Up to 268% Surge in H1 Profit; Shares Slip 3%
MT Newswires Live
Jul 15
CSSC Offshore & Marine Engineering (HKG:0317, SHA:600685) expects net profit attributable to owners of the parent for the first half to rise between 213% and 268% year over year to between 460 million yuan and 540 million yuan, according to a Monday Hong Kong bourse filing.
Hong Kong shares of the company were down about 3% in Tuesday's recent trade.
Profit excluding non-recurring items is projected to reach 430 million yuan to 510 million yuan, up from 131.1 million yuan a year earlier.
The company cited stronger gross margins from ship product deliveries, improved production efficiency, and higher investment income from associates and dividends as key contributors to the sharp increase.
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