Western Marine incurred losses in Oct-Dec of 2021

Western Marine Shipyard Limited suffered losses in the October-December quarter of 2021.

The ship manufacturer lost Tk 2.35 crore in the quarter, up from Tk 47 lakh during the same period a year earlier.

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

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

Net asset value per share was Tk 22.88 on December 31 of 2021 and Tk 23.40 on June 30 of 2021.

Western Marine Shipyard's profit declined in the July-September quarter of 2021. It made a profit of Tk 47 lakh in the quarter last year, down 32.85 per cent from Tk 70 lakh during the identical period in 2020.

Thus, earnings per share were Tk 0.02 in the quarter from Tk 0.03 earlier.

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

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