National Marine Dredging Profit Dips in 2017

National Marine Dredging Company (NMDC) yesterday reported a sharp year-on-year decline in its profits by 85.2% in the first three months of 2017.

According to the company filing to the Abu Dhabi Securities Exchange (ADX), NMDC’s profits fell to $421,900 (AED 1.55 million) in Q1-17, from $2.85 million (AED 10.46 million) in the corresponding period of 2016.

NMDC reported the revenue of $91.5 million (AED 336 million) for the three months period ended 31 March 2017 (Q1 2017) compared to $89.9 million (AED 330 million) for the three months period ended 31 March 2016.

Gross profit increased to $7.6 million (AED 28 million), which is 74% above the gross profit for the first quarter of 2016 (AED 16.1 million), while net profit was reduced to $421,900 compared to $2.85 million.

The company also reported that it is continuing projects in the UAE, Bahrain, Egypt and Africa. In the first quarter, NMDC has also started operations in India and has been awarded a contract for a project in the Maldives.

 

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Posted on May 16, 2017 with tags , .

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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