Marine

Western Marine suffered losses in October-December 2021

Western Marine Shipyard Limited incurred losses in the October to December 2021 quarter.

The shipbuilder lost Tk 2.35 crore in the quarter compared to Tk 47 lakh in the same period a year earlier.

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Earnings per share were Tk 0.10 negative for October-December 2021 compared to Tk 0.02 negative in the same period a year earlier, according to unaudited financial statements.

Its net operating cash flow per share fell to Tk 0.45 in the half of July-December 2021 from Tk 0.62 in the second half of 2020.

The net asset value per share was Tk 22.88 as of December 31, 2021 and Tk 23.40 as of June 30, 2021.

Western Marine Shipyard’s profit declined in the July to September quarter of 2021. It made a profit of Tk 47 lakh in the quarter last year, down 32.85% from Tk 70 lakh during the same period in 2020.

Thus, earnings per share was Tk 0.02 in the quarter versus Tk 0.03 earlier.

Established in Chattogram in 2000, the shipyard is situated on 42 acres of land and employs 3,500 people, including over 500 marine and technical experts.

So far, it has exported vessels to countries such as Germany, Norway, Ecuador, New Zealand and Kenya.