Nam Cheong's net profit soared 81% to RM41m
Thanks to stronger shipbuilding activity.
According to OCBC Investment Research, Nam Cheong Limited’s 2Q13 revenue and net profit jumped by 84% and 81% YoY to RM275m and RM41m respectively, driven by increase in shipbuilding activity.
Here's more:
1H net profit was RM76m and formed 50% and 46% of ours and the street’s FY13F estimates. We will provide further updates after its briefing later.