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CSBC makes 3.9% more profit in 2015

CSBC makes 3.9% more profit in 2015
Taiwan’s shipbuilder CSBC Corp has posted higher net profit but decreased revenue for 2015 compared to the previous year.

Taipei-listed CSBC recorded a profit of TWD468.15m ($14.52m) last year, up a modest 3.9% from TWD450.78m in 2014.

The state-owned corporation’s revenue, however, dipped by 15.8% year-on-year to TWD21.46bn.

Amidst a challenging global shipbuilding environment, CSBC has been cautious in accepting new orders in view of low newbuilding prices and potential defaults by cash-strapped buyers.

The group’s Kaohsiung yard has progressive deliveries up until the second quarter of 2018 while the Keelung facility has progression deliveries up till the second quarter of 2017.