Turnover of Tosmares Kugubuvetava shipyard shrinks 2.4% in H1

Latvia’s shipyard Tosmares Kugubuvetava in the first half of 2017 generated EUR 2,005,829 in turnover, down 2.4% year-on-year, while the company’s profit dropped 1.1% to EUR 24,263, informs LETA, according to the company’s statement submitted to the Nasdaq Riga stock exchange.

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The company’s representatives said that Tosmares Kugubuvetava closed the first six months with a gross profit of EUR 293,381 compared to EUR 210,185 in gross profit in the first half of this year.

In the said period, the company conducted 17 repairs of vessels, which is about the same as in the respective period last year.

In the first half of 2016 the company posted EUR 2,055,404 in turnover and earned EUR 24,541 in sales.

Shares in Tosmares Kugubuvetava are quoted on the Secondary List of the Nasdaq Riga stock exchange.
Source: Baltic Course