Shenzhen-listed China International Marine Containers (CIMC) posted profit of CNY497million (USD80 million) for the first quarter of 2015, surging 289% from the profit of CNY128 million in the first quarter of 2014.
The company’s revenue stood at CNY14.6 billion, up 20.4% year on year (y/y), and its earnings per share also climbed up from CNY0.048 to CNY0.186.
During the review period, CIMC received CNY16 million subsidies from the government and CNY153 million from its financial assets.
The company’s container and offshore business made obvious improvement in the first quarter of 2014, stated CIMC in its filling to the Shenzhen Stock Exchange. The profit increase was attributed to the improvement of the whole group’s performance and charted ship sales.
CIMC’s offshore sector recorded revenue of CNY1.9 billion, up 73% y/y, and all its offshore projects went well in the first quarter of 2015, according to the company.
Last month, its wholly owned subsidiary CIMC Raffles Offshore (Singapore) has recovered USD272.74 million from Brazil’s Schahin group.
CIMC posted revenue of CNY70 billion for the whole year of 2014, up 21% than the previous year, and made profit of CNY2.45 billion, rising 13.6% y/y.