Mencast Holdings reports 4% drop in Q2 net profit to $5.6 million
Mencast Holdings announced that its second quarter net profit dipped 4 per cent to $5.6 million.
This was despite revenue rising by 43 per cent to $27.5 million for the three months to June 30.
The Singapore-based maintenance, repair and overhaul provider attributed the stronger earnings to improvement in the offshore and engineering segment, along with contributions from the new energy services segmen.
This was somewhat offset by a marginal decline in contribution from the marine segment.