Jaya earnings more than treble in Q3

JAYA Holdings posted third-quarter net profit of US$14.1 million, more than treble the US$4 million a year ago.

Excluding gains from vessel sales/disposal, net profit was US$5.7 million higher than last year.

Revenue for the three months ended March 31 was US$105.7 million, US$81 million higher than the previous year. This was mainly due to the sale of a 16,000 bhp Ice-class vessel, The Jaya Sovereign, and improved charter utilisation. Charter utilisation was 81 per cent, compared with 64 per cent a year earlier.