Triyards foresees loss for third quarter

Triyards, whose ultimate holding company is Ezra Holdings which has filed for bankruptcy, told the stock exchange that its third quarter results will show a net loss compared to the earnings recorded in the previous corresponding period.

“The expected net loss is mainly attributable to the continued depressed state of oil and gas industry and downturn of the marine and offshore market,” Triyards stated.

For its first half ended 28 February 2017, Triyards posted a loss of $4.18m, as against the profit of $11.44m in the year-ago period.