Monday, 25 August 2008

Abu Dhabi Ship Building

With the global slowdown, a question mark hangs over Abu Dhabi Ship Building. Its fiscal second quarter (April-June) net profit rose 174.85 per cent on year to Dh36.57million, bouyed by back orders. These backorders can keep the momentum going for some time but will they be sufficient to stop the company dissappointing? The good news is that it has won new contracts this year and also gets a lot of its business from Navy orders.

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