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Displaying items by tag: despite loss

The shipyard owner of Belfast's Harland & Wolff has said its business is improving after announcing a pre-tax loss of £25.5 million for its latest reporting period.

Infrastrata PLC, which bought the company out of administration in late 2019, officially began trading under the Harland and Wolff name last September.

The group, which is also seeking to develop gas storage caverns under Larne Lough at Islandmagee, said it is in year three of a five-year plan to make the shipyard profitable again.

But it said the war in Ukraine and the ongoing energy crisis have hit those plans.

Publishing its accounts for the 17 months ending December 31 2021, Harland and Wolff Group Holdings PLC said revenues grew to £18.5m during the period, up from £1.5m for the year to July 31 2020.

The company has now absorbed pre-tax losses of around £36m in the last two reporting periods, with losses reaching £25.5m in the latest 17 months.

It put the losses down to “significant investment to support future growth of the business”, including the acquisition of three shipyards.

Appledore in Devon was acquired in August 2020, followed by Scottish yards Methil and Arnish in February 2021. All three now bear the Harland and Wolff branding.

The Irish News reports more on the shipyard group. 

As pictured above is the Northern Lighthouse Board's aids to navigation tender, NLV Pharos which Afloat reported last month. 

Published in Shipyards
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Irish Sailing Classes and Association – There’s no shortage of one-design classes from which to choose and each gives its enthusiasts great competition, fun and camaraderie, writes Graham Smith in this review of the classes. 

One-design racing is where it all starts. It is, after all, where all the top sailors earned their stripes, battling away for line honours without a thought for a handicapper’s calculator wiping away a hard-fought victory!

Indeed, you could count on less than one hand the number of top Irish sailors who didn’t cut their teeth in a one-design dinghy! Just think of Cudmore, Barrington, Watson, Wilkins, Hennessy and Dix to name a few and you realise that they honed their skills in everything from Enterprises to Lasers and a lot in between.

At present count, there are a little over 30 one-design classes in Ireland, split almost evenly between dinghies and keelboats, a statistic which might raise a few eyebrows. They range from the long-established Mermaids, IDRA14s and Dragons to the newer additions like Fevas, Topaz and RS Elite. They all fill a particular need and give their owners and crews considerable enjoyment.

Many have attracted their World or European Championships to Irish waters over the years and while 2009 is notable for a lack of such events here, the following year will see the Etchells Worlds at Howth and perhaps a few other international regattas too.

In addition to the review, we asked each class to complete a questionnaire giving details of their fleet numbers, whether they were on a growth pattern or holding their own, so we could highlight those ‘on the up’ and those remaining static in terms of numbers. The older traditional designs, as you might imagine, fall into the latter category, although that’s not a negative!

CLASS REVIEW  The State of the Classes – League Table (as at February 2009)

S = Static; U = Up/growing

275     Optimist   U

200+   Laser   S

189     Mermaid   S

160     Flying Fifteen   S

130     RS Feva   U

115     Shannon One Design    U

100+   Mirror   S

100+   Topper   U

99       Topaz   U

94       Laser SB3   U

87       GP14   U

85       Squib   S

70       Fireball   S

70       Ruffian   S

60       J24   S

60       Shipman   S

52       Dragon   S

50       RS400/200   S

50       420    U

43       Multihulls    U

42       Dragon    S

40       Water Wags    U

40       Wayfarer    S

34       IDRA14    U

33       Puppeteer    U

28       Etchells    S

27       E-Boat    U

26       Glen    S

25       Enterprise    S

18       Sigma 33    S

18       Howth 17    U

13       RS Elite    U