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FINWIRES

AVIC Shenyang Aircraft's Q1 Profit Drops 62%, Revenue Slumps 55%; Shares Down 3%

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-- AVIC Shenyang Aircraft's (SHA:600760) net profit attributable to shareholders in the first quarter dropped 62% to almost 165 million yuan from 430.6 million yuan a year earlier, according to a Shanghai bourse filing on Wednesday.

Earnings per share fell 63% year on year to 0.06 yuan from 0.16 yuan.

Operating revenue dipped 55% to 2.61 billion yuan from almost 5.83 billion yuan in the previous year.

The Chinese aircraft manufacturer's shares fell less than 3% during the morning trade.

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