23 Oct 2013

American Samoa Shipyard Authority ends 2013 with a profit

11:53 am on 23 October 2013

The American Samoa Shipyard Services Authority has closed out the last fiscal year 2013 with a profit, which will be invested back into the government owned Ronald Reagan Marine Railways shipyard.

There had been concerns earlier in the year from the Fono about whether the shipyard could stay within its budget, due to major repairs and other work that needed to be carried out.

This week, the shipyard services board chairman David Robinson, says the shipyard achieved a net profit of just over 200,000 US dollars.

He says this money is being reinvested into all the renovation work carried out, and equipment upgrades.

Mr Robinson says the profit was achieved by diligent management of the work schedule and cash flow.