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ASL Marine displays strong Q2 results

ASL Marine displays strong Q2 results
Singapore: Singapore-based ASL Marine achieved higher earnings in the second quarter ended 31 December 2012 due to better margins and lower operating expenses.  

The shipbuilder and ship repairer posted a second quarter net profit of SGD10.6m ($8.6m), up 39.8% compared to SGD7.6m in the same period of the previous year. Revenue at the Singapore-listed company also rose 7.3% year-on-year to SGD83m.

ASL Marine's shipbuilding orderbook from external customers stood at approximately SGD528m as at 31 December 2012, which comprised of 34 vessels including offshore support vessels, AHTS, self-propelled cutter suction dredger, tugs and barges, with deliveries scheduled up to the fourth quarter of 2014.

“We have seen strong orders for rigs over the past year, and we anticipate this demand to flow down the supply chain, supporting the outlook for offshore support vessels over the medium term,” said Ang Kok Tian, chairman and managing director of ASL Marine.


TAGS: Shipyards
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