Abu Dhabi – Mubasher: Abu Dhabi Ship Building (ADSC) has reported a 92.6% year-on-year drop in net profit during the first six months of 2018, recording AED 3.7 million.

The company’s revenue also declined to AED 261.5 million in H1-18 versus AED 385.8 million in the year-ago period, according to a bourse statement.

ADSC’s earnings per share went down to AED 1.7 in the first half of the year from AED 22.9 a year earlier.

The Abu Dhabi-listed vessel manufacturer’s recorded a net loss of AED 8.86 million in the second quarter of 2018.