Cammell Laird reports downturn
Long-serving Steam Packet partner Cammell Laird has reported a significant drop in profit.
The shipyard, based in Birkenhead, Merseyside, took just £2.5 million pre-tax last year, compared to £10 million the year before.
Turnover also fell by £16 million over the same period.
Bosses are blaming a fall in demand for naval and military work for the slump.
However, the company, which has built 13 Manx ferries, is hopeful that its fortunes will be reversed with a series of new contracts over the next five years.
Cammell Laird is still responsible for the dry dock servicing of operational Steam Packet vessels.
It's also known for building the arctic research ship RRS Sir David Attenborough - known to some as Boaty McBoatface - last year.
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