China International Marine Containers Group (CIMC)’s offshore engineering unit’s profit has slumped 62% year on year (y/y) to CNY18.7 million (USD2.9 million) in the first six months in 2015 because of the slowdown in the international offshore market.
The unit’s revenues also decreased 11% y/y to CNY5.0 billion during the period, a stock filing of CIMC said on 28 August.
For the overall business sectors of CIMC, its profit rose 47% y/y to CNY1.5 billion on financial income. Its revenue rose 2% y/y to CNY32.6 billion.
CIMC’s container manufacturing business profit surged 120% y/y to CNY710 million on financial derivatives income, with revenue up 8% y/y to CNY12.5 billion. The company predicted that the global demand for containers will be weaker in the second half of 2015 than that in the first half.