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Triyards' Q2 net profit rises 9% to $9.9 million

Published on Apr 10, 2014 8:47 PM

SINGAPORE - Offshore vessel fabrication and engineering solutions provider Triyards Holdings' second quarter net profit rose 9 per cent to US$7.8 million (S$9.9 million).

This was despite revenue falling 6 per cent to US$74.5 million for the three months ended Feb 28.

Earnings were boosted by a 10 per cent decline in cost of sales to US$61 million, boosting its gross profit by 15 per cent to US$13.5 million.

The company said its gross profit margin increased mainly due to the contributions from its ship repair projects.

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