Labroy Marine sees bright future

Singapore: Confirming the booming fortunes of the Singapore shipbuilding and repair sector, Labroy Marine posted an 18% rise in second quarter net profit to S$16.6m and said it expected even higher second-half results due to improved shipbuilding margins. In June alone the company secured orders to build four vessels and two rigs worth $82m, bringing the total value of its orderbook to $800m. [15/08/06]