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CSSC triples profits

CSSC triples profits

Beijing: China State Shipbuilding Corp (CSSC), the bigger of the country's two major ship makers, said its profit almost tripled last year as it boosted output and improved production efficiency.
Net income surpassed 14 billion yuan last year, skyrocketing from 5.2 billion yuan in 2006, the company said yesterday in Beijing.
It finished 6.55 million deadweight tons of vessels in the past year and received a record order of more than 23 million dwt of ships worldwide, which put its overall amount for orders yet to deliver beyond 50 million dwt.
"In the next three years, our output will maintain a high annual growth rate of 40 percent and in 2010, it will exceed 18 million dwt," said Chen Xiaojin, chairman and general manager of CSSC. "We aim to be the biggest shipbuilder by 2015 and make China the top nation in shipbuilding."  [09/01/08]

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