2 marine services groups post higher profit

Singapore

MARINE services provider Swissco Holdings has posted a more than doubling in first-quarter net profit to $3.75 million from $1.81 million a year earlier.

Revenue for the three months ended March 31, 2014 rose 22.4 per cent to $13.7 million from $11.2 million, on the back of higher vessel chartering revenue. Earnings per share were 0.86 cent, up from 0.417 cent.