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.
This post was sourced from IHS Maritime 360: View the original article here.