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Yangzijiang Shipbuilding gets a strong ‘buy’ amid improving margins and higher order book: analysts
The best is yet to come for Yangzijiang Shipbuilding, analysts say as they anticipate stronger prospects after its “better-than-expected” profits.
For the 1QFY2021 ended March, the shipbuilder’s earnings came in at RMB761.7 million ($156.8 million) up 89% y-o-y, thanks to the construction of more containerships and large-sized vessels as well as improved charter margins that collective raised gross profits.
This surpassed the RMB610 million profit that CGS-CIMB Research analyst Lim Siew Khee had penciled.
This is due to the RMB212 million in net forex gains and the RMB154 million reversal of impairment for assets held under maturity, she elaborates.
The Straits Times
Singapore stocks end the week in the black; STI up 0.2%
The Straits Times Index ended 0.2 per cent, or 6.26 points, higher at 3,194.04, on April 23, 2021.PHOTO: ST FILE
Rae Wee
https://str.sg/JFN7
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