ASL Marine Q2 profit plummets on lower revenue and margin

Singapore

SECOND-QUARTER net profit of offshore and marine group ASL Marine plummeted 51.6 per cent to S$883,000, from S$1.82 million a year ago, on reduced revenue and lower gross profit margin.

Revenue for the three months ended Dec 31, 2016, dropped 16.1 per cent to S$83.66 million as a fall in turnover from shipbuilding and engineering more than offset increases in topline contributions from ship repair and conversion and ship chartering businesses.