CSBC net profit slumps 68%

Taiwan's state-owned shipyard CSBC's third-quarter net profit slumped 67.6% year-on-year despite a marginal rise in revenue. The Kaohsiung-headquartered shipyard recorded

third-quarter net profit of NT$223.03m ($7.45m), slipping from profit of NT$689.16m in the same period of last year. Revenue inched up to NT$7.19bn compared to NT$6.77bn a year ago. The larger Kaohsiung yard is running at full capacity until the second-half of 2015 while the Keelung yard is busy until the first-half of 2014.