Abu Dhabi – Mubasher: Abu Dhabi Ship Building (ADSB) has reported a net loss of AED 135.879 million during the full year of 2018 against AED 104.8 million in 2017.

The company’s revenue tumbled to AED 455.989 million last year, compared to AED 712.137 million in 2017, according to a filing to the Abu Dhabi Securities Exchange (ADX) on Thursday.

The ship manufacturer recorded a gain on foreign exchange of AED 4.6 million for the year ended 31 December 2018.

Losses per share (LPS) amounted to 64.1 fils in 2018 against earnings per share (EPS) of 48.9 fils in 2017.

ADSB suffered a loss of AED 77.45 million during the third quarter of 2018 against profits of AED 23.74 million in the same period a year ago.