Ardmore Shipping profits dive

Cork-based Ardmore Shipping, which is listed on the New York stock exchange, saw its profits plummet by nearly 90 per cent in 2016.

The company had net profits of $3.7 million (€3.4 million) at the end of 2016, compared to $32 million (€30 million) for the same period last year.

That drop in profits came after the company’s earnings fell from $70.6 million to $54.2 million. The full-year results saw the company announce ...