FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Colombo Dockyard's profits dip Vote_lcap68%Colombo Dockyard's profits dip Vote_rcap 68% [ 178 ]
Colombo Dockyard's profits dip Vote_lcap18%Colombo Dockyard's profits dip Vote_rcap 18% [ 47 ]
Colombo Dockyard's profits dip Vote_lcap13%Colombo Dockyard's profits dip Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Colombo Dockyard's profits dip

Colombo Dockyard's profits dip

Go down  Message [Page 1 of 1]

1Colombo Dockyard's profits dip Empty Colombo Dockyard's profits dip Fri Aug 14, 2015 8:56 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Colombo Dockyard PLC saw a dip in their profits according to their Annual Report 2014.
"We experienced space constraints for the ship repairs during the year, due to the construction of the two passenger vessels taking up nearly 25% of the yard space available for ship repairing," said Ranil Wijegunawardane, Managing Director/ CEO.
Nevertheless, the ship repair sector reported a marginal growth in 2014, against the previous year.
This sector is expected to show improved results in years to come with more space now available for ship repair work.
As a result of the unplanned cost overflows from the two passenger vessels discussed above, our revenue dropped by 14% against 2013. Our profitability plummeted by almost 75%, against 2013. We were also not able to offset the higher costs through rupee depreciation, as the rupee remained exceptionally stable throughout the year.
However, our profitable ship repair business contributed significantly towards alleviating the overall impact on profitability.
We closed the year with profits after tax at Rs 209.2 Mn, compared to Rs 823.7 Mn in 2013. The lower profitability of the Colombo Dockyard also weighed down Group profitability by 68.5% against the previous year.
Due to our continuing focus on improving workplace safety standards, I am happy to report a 36% reduction in accidents at work, during the year. 
Courtesy: Daily News 14 August 2015

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum