Russia's Vyborg Shipyard has managed to cut its loss in half during 2016.
The company said its net deficit last year was RUB 1.05bn ($18.38m), against RUB 2.2bn in 2015.
Revenue was RUB 5.4bn compared to RUB 4.76bn the year before.
In December, Russia’s VTB bank agreed a loan of RUB 2.8bn to Vyborg.
The shipbuilder said the cash would be used to finance the construction of an icebreaker, among other things.
