ASL Marine delivers strong earnings, thanks to buoyant offshore market
Published on Feb 6, 2013 6:12 PM
ASL Marine Holdings has posted a 39.8 per cent rise in second quarter net profit to $10.6 million.
Total revenue for the three months to Dec 31 was up 7.3 per cent at $83 million.
Revenue from the shipbuilding segment increased by 3.4 per cent to $49.9 million, due to higher revenue recognition from the construction of more vessels during the quarter.
The group worked on 23 vessels during the quarter, compared to 17 vessels in the same period last year, with greater focus on offshore support vessels.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!