China International Marine Containers (CIMC) announced that it would post an increase in net profit for the first nine months as well as the third quarter.

According to preliminary fgures, CIMC said in a stock market announcement that net profit for the first nine months would come in at between RMB1.47bn ($240m) to RMB1.95bn compared to RMB976.8m in the previous corresponding period.For the third quarter, gains would range between RMB522.3m and RMB764.8m compared to RMB424.9m previously.

CIMC said the better results during the period were mainly attributable to delivery of projects in its offshore engineering business which were previously still under construction, and realized a positive profit compared to the loss of the corresponding period in last year.

The group added that meanwhile, other businesses like the energy, the chemical and food equipment have kept increasing as the global economy improves compared to the downturn in the results during the same period last year. In addition, the effects of the reversal of withholding tax for overseas enterprises which had been identified as Chinese resident enterprises in the first quarter of 2014, also helped boost the group's profits.