Colombo Dockyard recorded a loss of Rs 37 million in the quarter ended June 2017 , compared to Rs 57 million profits made a year ago.
However, dockyard posted Rs 141 million in earnings in the March 2017 quarter, according to interim results filed with the stock exchange.Profits from ship building has fallen due to slump in shipping, with clients cancelling new building orders or negotiating pries down in the first half year while revenues ship repair has increased during the same period.
According to the interim results, Dockyard reported a loss per share of 51 cents. But its earnings per share for the six months to June 2017 were Rs1.46 with sales up 37% to Rs7.2 billion.And the dockyard has somehow managed to reduce loses to 432 million rupees in 2016 from 708 million rupees the year before.
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