Swissco posts 85.2% jump in Q3 profit

MARINE service provider Swissco Holdings posted net profit of $6.4 million for the third quarter ended Sept 30, up 85.2 per cent from $3.5 million a year earlier.

Revenue fell 45.4 per cent to $13.8 million from $25.2 million a year ago, due mainly to lower contribution from its maritime services business.

Earnings per share were 1.473 cents, up sharply from 0.801 cent the previous year.