Swissco improves full year earningsSwissco improves full year earnings

Net profit for the financial year ended 31 December 2013 was recorded at SGD23.19m ($18.29m), a jump of 41.5% compared to SGD16.39m in 2012.

Revenue also increased 4.3% year-on-year to SGD114.73m.

“With the outlook of global E&P spending set to remain positive we expect charter rates and demand for our vessels to remain stable. As such, we will continue to enhance our fleet capabilities through our fleet expansion and renewal program to better meet market demand,” said Alex Yeo, ceo of Swissco.

“In order to further unlock shareholder value, we will continue to actively seek to establish strategic alliances in new markets to propel the growth of our existing business. We will also seek acquisition opportunities to broaden and diversify our earning base,” he added.