Harland and Wolff Group reports £43 million loss in shipbuilding industry.

Shipbuilder Harland and Wolff Group, operating from its main Belfast yard with one of Europe’s largest drydocks, reported a £43 million loss in its latest financial statement. The group, which also has yards in Arnish and Methil, Scotland, and Appledore, England, has temporarily halted trading in its shares on the London Stock Exchange (LSE).

The suspension on the LSE is due to Harland and Wolff’s inability to publish independently audited accounts on time. However, the company anticipates releasing these accounts next week. In the maritime and offshore industry sector, the company has stressed the necessity of a £200 million government loan guarantee to stabilize its finances.

The company’s financial struggles highlight the challenges faced by businesses in the maritime industry, emphasizing the need for external support to ensure stability and growth.

Source .