Austal reports profit fell

Austal Ltd.'s profit fell 43 percent in the first six months of its budget year as the company invested in building its Mobile operations to handle Navy contracts that the Australian company hopes to win. Profit for the six months ended Dec. 31 was $10.9 million. The company employs about 1,000 people at its Mobile River shipyard. (Source: Mobile Press-Register, 02/24/09)