SINGAPORE, 9 November 2010 – JES International Holdings Limited (“JES” or the“Group”) (JES 国际控股有限公司), a major PRC shipbuilder, said today that its net attributable profit for the July- September 2010 (“3Q2010”) soared to RMB 22.5 millionfrom RMB 1.6 million in 3Q2009.
Singapore Exchange Mainboard-listed JES, with capabilities to build a wide range ofvessels, said profit surge was achieved on the back of a 113.7% increase in revenue toRMB 641.0 million in 3Q2010 from RMB 300.0 million in 3Q2009, mainly due to more vessels in construction, with the increased capacities coming from the recentlycompleted new yard facilities.
In 3Q2010, the Group delivered two 37,500 deadweight tonnes (“DWT”) bulk carriers and one 79,800 DWT bulk carrier, as compared to 3Q2009 where shipbuilding operations were affected by slower production progress and delays in vessel deliveries.
JES reported gross profit margin of approximately 9.0% in 3Q2010.
Earnings per share rose to 1.93 RMB cents from 0.14 RMB cent for 3Q2009 (based on weighted average of 1,166,028,000 shares). Net asset value per share as at 30 September 2010 rose to 140.8 RMB cents from 138.6 RMB cents as at 31 December 2009.
For the nine months ended 30 September 2010 (“9M2010”), the Group recorded revenue and net attributable profit of RMB 1.5 billion and RMB 27.0 million, respectively, compared to RMB 980.1 million and a loss of RMB 43.9 million, respectively, in 9M2009
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