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Pacific Radiance posts jump in earnings on higher fleet demand

Published on Aug 14, 2014 11:54 AM

SINGAPORE - Higher demand for Pacific Radiance's offshore services support fleet pushed up its second-quarter earnings, the company said on Thursday.

The offshore marine services firm posted a 52 per cent jump in net profit for the second quarter from a year ago to US$32.4 million (S$40.4 million).

This was on the back of better earnings in its offshore support services business, as well as a US$9.3 million increase in its gain on the sale of its vessels.

Revenue for the group rose 6 per cent in the three months to June 30 from the previous year, reaching US$48.7 million.

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