Belgian shipowner Jan De Nul has posted a drop in annual profit after revenue fell.
The dredging and offshore vessel company said net earnings for 2016 were EUR 114.6m ($129m), from EUR 270.36m a year ago.
Revenue of EUR 2bn was down 9% over the same period.
Jan De Nul said however that 2015 was an "exceptionally strong year" because of the successful completion of some major dredging projects, including construction work at the Suez Canal.
