Yangzijiang Shipbuilding, China’s largest privately-owned shipbuilder, has reported a 47% year-on-year increase in its first half performance.

The Singapore-listed company booked a net profit of CNY 1.7bn ($240m) against the CNY 1.17bn achieved 12 months earlier.

Revenue for the first half of the year rose by 16% year-on-year to CNY 11.3bn