Nam Cheong's Q3 profit doubles to RM126.29m

Singapore

OFFSHORE marine group Nam Cheong's net profit more than doubled to RM126.29 million (S$48.68 million), up from RM58.69 million previously, for the third quarter ended Sept 30, on the back of higher revenue.

Revenue surged 81 per cent to RM618.62 million as both its shipbuilding and vessel chartering businesses reported higher revenues. Earnings per share worked out to 6.01 Malaysian sen, rising from 2.79 sen previously.