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CSBC sees Q1 profit fall 68%

CSBC sees Q1 profit fall 68%
Taiwan’s state shipbuilder CSBC Corp has seen its earnings slashed in the first quarter compared to year-ago levels amid the market slump.

Net profit for the quarter ended 31 March 2016 was posted at TWD40.71m ($1.24m), a sharp fall of 68.4% from TWD128.64m reported in the same period of 2015.

First quarter revenue for Taipei-listed CSBC also decreased by 21.6% year-on-year to TWD4.55bn.