Vyborg Shipyard?s Q1 profit tumbles 4,2 times, to RUB62.276m

Net income of Vyborg Shipyard (VSZ OJSC, Leningrad region), according to Russian Accounting Standards (RAS) in the 1st quarter of 2010 shrank 4.2 times as much compared to the same period last year, to 62.276 million rubles, the Company’s statement said. Vyborg Shipyard’s Q4, 2010 income made up 57,465,000 rubles.
Vyborg Shipyard specializes in the construction of drilling rigs for the development of offshore deposits and building of small and medium tonnage vessels. In addition, the Company invested in a new Primorsk shipyard project (Leningrad Oblast), for building large-capacity merchant ships.