china state shipbuilding 1st half net +80.61％ to cny1.95 billion

china state shipbuilding co., the nation＇s largest shipyard operator by capacity, said thursday its first﹣half net profit rose 80.61％ on sales growth ａnd strong investment income. the shanghai﹣listed company said in a statement its net profit for the six months ended june 30 was cny1.95 billion, up ｆrom cny1.08 billion a year earlier. revenue rose 39.69％ to cny10.7 billion ｆrom cny7.7 billion.
in addition to sales growth, an increase in investment income also contributed to the rise in net profit, according to the company.
its investment income rose sharply to cny73.6 million, up ｆrom cny42,000.
the shipbuilder said its operating margin in ship building, which contributed more than 70％ to its revenue, fell to 19.42％ ｆrom 26.44％ a year earlier due to foreign exchange losses ａnd rising raw material costs.
"ship building were mostly settled in the u.s. dollar, ａnd the depreciation of the dollar caused a decline in foreign exchange settlement," china state shipbuilding said in the statement.