Triyards in the red for Q2 with US$6.25m loss

TRIYARDS Holdings on Friday announced a net loss of US$6.25 million for the second quarter ended Feb 28, 2017, against a net profit of US$5.28 million a year ago.

This is mostly due to an US$8.4 million allowance made for doubtful receivables from related entities of Ezra Holdings, which either face a potential going concern issue or have filed for Chapter 11 of the US Bankruptcy Code.

Revenue for the quarter went up marginally to US$70.64 million.

Loss per share for the six months ended Feb 28 was 1.29 US cents, against earnings per share of 3.53 US cents a year before.

No dividend was declared for the quarter.