Second quarter profit rises at offshore vessel builder Jaya Holdings

JAYA Holdings said on Tuesday that its second-quarter net profit rose 11 per cent to US$7.2 million (S$9.1 million) as it chartered out more vessels and at better rates.

But revenue for the three months to Dec 31 fell 70 per cent to US$33 million as the period a year earlier had been boosted by large vessel sales.

Jaya owns and builds offshore vessels used by the oil and gas sector. Earnings per share were 0.94 US cent for the quarter, from 0.84 US cent a year earlier.

Net asset value per share were 20.59 US cents at Dec 31, down from 23.47 US cents at June 30.

Jaya declared an interim dividend of one Singapore cent per share, up from0.5 Singapore cent per share a year ago.

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