Subsea services lift full year earnings at Mermaid Maritime

PERFORMING more full subsea services lifted earnings at Thailand-based offshore services company Mermaid Maritime by a whopping 388.9 per cent year-on-year to US$15.7 million for the full financial year, it said on Wednesday.

Turnover for the 12 months to Sept 30 leapt 46.9 per cent to US$269.6 million from the preceding year.

Earnings per share were two US cents for the year, an increase from 0.4 US cents the preceding year. Net asset value per share fell to 38 US cents as at Sept 30 this year from 48 US cents on Sept 30 last year.

The firm declared a final dividend of 0.5 US cents per share and a special dividend of 0.36 cents per share, subject to shareholder approval.

Mermaid Maritime shares closed one cent down at 39.5 cents on Wednesday.