ECONOMYNEXT – Sri Lanka’s Colombo Dockyard said its net loss narrowed to Rs79 million in the September 2017 quarter from Rs189 million a year ago.
Interim results filed with the stock exchange showed a loss per share of Rs1.10, down from a loss of Rs2.63 the previous year. The stock was trading at Rs91.50 Thursday morning.
Sales of the yard, majority owned by Japan’s Onomichi Dockyard Company, fell 2% to Rs3.15 billion in the September 2017 quarter from a year ago.
In the nine months to September 2017 the yard reported a Rs31 million profit compared with a Rs203 million loss the previous year.
Earnings from ship building and heavy engineering business fell while that from ship repair business improved significantly, the accounts showed.
Interim results filed with the stock exchange showed a loss per share of Rs1.10, down from a loss of Rs2.63 the previous year. The stock was trading at Rs91.50 Thursday morning.
Sales of the yard, majority owned by Japan’s Onomichi Dockyard Company, fell 2% to Rs3.15 billion in the September 2017 quarter from a year ago.
In the nine months to September 2017 the yard reported a Rs31 million profit compared with a Rs203 million loss the previous year.
Earnings from ship building and heavy engineering business fell while that from ship repair business improved significantly, the accounts showed.
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