Diversification backs revenue but dents profit at Triyards
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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.
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