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Monday, May 16, 2011

Dockyard records Rs.467 mn in first quarter

By Jithendra Antonio

Lanka’s leading ship builder Colombo Dockyard PLC (DOCK) recently said the company’s net profit for the quarter ended March 2011 had shot up to Rs.467 million from Rs.263.86 million last year.

The quarterly performance of the company suggests that its net profit for the period improved by over 78 percent, while Earnings per Share rose from Rs.3.82 to Rs.6.82.

The revenue of the company had risen from Rs.2.63 billion to Rs.3.26 billion whilst segmental analysts show that earnings from ship repair activities topped Rs.1.2 billion from Rs.970 million in the corresponding period.
Subsequently, the revenue from Ship building also rose to Rs.1.9 billion from Rs.1.4 billion. However, Colombo Dockyard’s earnings from heavy engineering activities had dipped from Rs.188.49 million in 2010 March to Rs.84.85 million in March 2011.

source - www.dailymirror.lk