Triyards' Q1 profit up 13% to US$8.2m on better margins

Singapore

MAINBOARD-LISTED offshore engineering group Triyards Holdings has reported a 13 per cent rise in net profit to US$8.22 million for the first quarter ended Nov 30, 2014 (Q1 FY2015).

Revenue over the same period tumbled 37 per cent year-on-year to US$56.7 million.

The revenue plunge was mainly due to the comparison to higher turnover in Q1 FY14, which recorded contributions from a subsea construction ves…