TheSingapore-listed entity lost CNY 4.7m ($753,000) in the three months ended 31March 2014 versus a loss of CNY 757,000 a year ago.
Revenue declined 7.4% year-on-year to CNY 105.5m,but operating costs also declined coming in 3.5% lower at CNY 73.7m.
AvicMaritime attributed the deterioration in the result to lower shipbuilding revenue andlower ship design fee income.
However, it said income from the trading ofsteel plate and higher management service fee income have helped to offset the fallin revenue.
Contributionfrom Deltamarin, the Finnish ship designer acquired in 2012, accounted for over60% of the group’s total revenue at CNY 63.7m.
“The group has been actively working on theintegration of the shipbuilding project management and consultancy businesssegment from Avic International Beijing, Shanghai, Xiamen and Guangzhou intoAvic Maritime, which will reinforce and strengthen our focus and capabilitiesin the maritime management and consultancy business,” said Avic Maritime executive chairman Diao Weicheng.
