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Sri Lanka’s Colombo Dockyard trims losses in Sept quarter

Nov 16, 2017 11:25 AM GMT+0530 | 0 Comment(s)

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.

(COLOMBO, November 16, 2017)


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