Penguin's Q1 profit surges on higher revenue

Singapore

MARINE and offshore firm Penguin International posted an enormous surge in first-quarter profit from continuing operations at $7 million, up from $1.5 million for the corresponding quarter the previous year.

This upswing came on the back of a 55.2 per cent spike in revenue, from $19.8 million to $30.8 million for the period ended Mar 31, 2014.