Marco Polo Marine closes 16.7% higher on profit jump, bright outlook; over 100 million shares change hands

[SINGAPORE] Shares of Marco Polo Marine ended Tuesday (Dec 2) up 16.7 per cent or S$0.02 at S$0.14, after more than 100 million securities changed hands.

The counter had climbed 7.5 per cent or S$0.009 to S$0.129 earlier at 9.22 am on Tuesday, where over 40 million shares were traded.

On Saturday, the integrated marine logistics company posted a 348 per cent increase in net profit to S$47.9 million for its second half ended Sep 30, from S$10.7 million in the previous corresponding period.

For the full year, net profit surged 169.7 per cent to S$58.5 million, from S$21.7 million the year before. 

This was attributed to a combination of stronger underlying performance and several extraordinary gains, including a S$22.4 million reversal of impairment loss on certain vessels and a S$5.9 million reversal of impairment loss on an amount due from a joint venture.

On Tuesday, RHB increased its target price for the counter from S$0.122 to S$0.14, maintaining its “buy” call. Analysts also raised their earnings forecasts for FY2026 and FY2027 by 15 and 13 per cent, respectively.

SEE ALSO

Marco Polo Marine expects ‘significantly higher’ FY2025 net profit

Marco Polo Marine H2 profit jumps over 4 times to S$47.9 million on impairment reversals

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“We continue to like Marco Polo Marine for its accelerating growth outlook. Growth should be driven by its new dry dock and four new vessels (including its commissioning service operation vessel) in FY2026,” RHB analyst Alfie Yeo said.

“We are more positive on growth after Marco Polo Marine announced better-than-expected gross and operating margins in its FY2025 results, with operating profit outperforming strongly,” he added.