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New yard boosts JES International

New yard boosts JES International
Jiangsu: Chinese shipbuilder JES International’s new yard helped boost its earnings in 2011.

The Singapore-listed shipbuilder, that had delayed releasing its financial results while it made provisions related to delivery delays, reported a net profit of RMB202.9m last year. JES revenues hit a record RMB2.95bn last year, up 30% on the previous year.

 “The improvement in financial performance for 2011 reflects the coming onstream of the group’s new yard and success of the Group’s business development efforts. The completion of the new yard has served as the catalyst for the group to introduce new and more efficient production technology and management practices, improved ship designs,” said Jin Xin, chairman and ceo for JES.

 

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