Diversification backs revenue but dents profit at Triyards
Singapore
TRIYARDS Holdings, Ezra Holdings' yard operating subsidiary, posted a 38 per cent increase in first-quarter revenue on diversification of its order book beyond the oil price-linked offshore & marine sector, but its net profit slipped 25 per cent on lower gross profit margins and the absence of a one-time gain.
Net profit was US$6.2 million for Q1 ended Nov 30, 2015, down from US$8.2 million, despite the increase in revenue to US$78.1 million. Earnings per share for Q1 were down to 1.9 US cents from 2.61 US cents a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet
ING unveils 2.5 billion euros buyback as profit beats estimates