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Neptune consolidation boosts MTQ's Q3 profit to $6.4m

Revenue more than doubles to $75.1m due to contribution from Australia-based subsidiary

Gross profit margin for the quarter fell to 33.8 per cent, from a restated 38.5 per cent last year, due to the inclusion of Neptune. Staff costs increased by 122 per cent from $5 million to $11.1 million - PHOTO: NEPTUNE MARINE

CONTRIBUTIONS from recently acquired subsidiary Neptune Marine Services boosted the numbers for oilfield engineering company MTQ Corporation, which reported net profit of $6.4 million for its third quarter ended Dec 31, 2013.

This was up from a restated $1 million loss the same period a...

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