The marine and offshore services firm registered a loss of RMB5.56m ($892,050) in the quarter ended 31 March 2014, widening from a deficit of RMB1.22m in the previous corresponding period.
Revenue dropped 7.4% year-on-year to RMB105.51m due mainly to lower shipbuilding revenue and lower ship design fee income. However the company’s income from the trading of steel plate and higher management service fee income have helped to offset the lower revenue.
“The group has been actively working on the integration of the shipbuilding project management and consultancy business segment from Avic International Beijing, Shanghai, Xiamen and Guangzhou into Avic Maritime, which will reinforce and strengthen our focus and capabilities in the maritime management and consultancy business,” said Diao Weicheng, executive chairman of Avic Maritime.
“Going forward, the group will continue to actively implement its strategies to provide a one-stop service covering the entire maritime business value chain,” he said.
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