The attributable profit of Hongkong United Dockyards owned in partnership with Hutchison Whampoa dived to HKD 14m ($1.8m) from HKD 37m through the same period of last year.
Swire Pacific said the performance was adversely affected by continued competition from regional marine repair facilities.
There was no further explanation of what happened but shiprepair costs have fallen sharply as previously busy newbuilding yards particularly in the Far East have tried to compensate for a reduction in orders by moving into the the repair sector.
Profitability
