Abu Dhabi Ship Building (ADSB) has unveiled a profit of $3m for 1997, up
from $817,216 recorded for the first 18 months of operations ending 31
December 1996.
During 1997, contract revenues rose by 18.3% to $20.4m, total
shareholders' funds went up by 8.7% to $51m while total assets slipped
by 3.4% to $62m.
ADSB delivered two fire-fighting tug boats to the UAE navy last year and
completed the mid-life refit of the first of its six patrol boats.
