Sri Lanka, July 29 -- Colombo Dockyard PLC swung to a profit in the three months through June as stronger ship repair earnings and lower finance costs outweighed a drop in revenue.

The group posted a net profit of Rs.80.2 million, reversing a Rs.813.4 million loss a year earlier, according to interim financial statements filed with the Colombo Stock Exchange.

Revenue fell 6.8 percent to Rs.5.84 billion, but cost of sales declined 21.8 percent to Rs.4.63 billion. That lifted gross profit to Rs.1.21 billion from Rs.345.4 million and widened the gross profit margin to 20.7 percent from 5.5 percent.

Ship repairing was the strongest-performing business during the quarter. Revenue from the segment climbed 48.4 percent to Rs.3.95 billion, whi...