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Heavy Seas

May 15, 2014 (LBO) - Profits at Colombo Dockyard Plc, a unit of Onominchi Japan's Onomichi Dockyard said profits fell 61 percent in from a year earlier to 130 million rupees in the March 2014 quarter amid rising expenses, interim account showed.
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The firm reported earnings of 1.82 rupees for the quarter. The stock closed at 192.50 rupees down 30 cents Tuesday.
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Revenues in the quarter fell 4.


7 percent to 4.22 billion rupees, expenses rose at a faster 13.
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7 percent to 3.7 billion rupees, narrowing gross profit 34 percent to 485 million rupees.
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Other income fell 15 percent to 73.

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7 million rupees and net finance income fell 44 percent to 27.
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2 million rupees.
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