Russian shipbuilder Krasnoye Sormovo has logged reduced earnings as revenue fell in 2016.
Net profit last year was RAS of 390.3m ($6.91m), down from RUB 488.1m in 2015.
Revenue dropped to RUB 6.64bn ($117.73m), against RUB 7.57bn a year ago.
In January, the yard clinched two new contracts to build five tankers and five bulkers.
It will hand over the vessels this year and in 2018.
The
