Swissco's Q3 net profit surges 78.8% to S$10.4m on OSV charters, acquisition

Singapore

MAINBOARD-LISTED Swissco Holdings (Swissco) on Wednesday announced a 78.8 per cent rise in its third-quarter net profit to S$10.4 million from S$5.8 million in the same period last year, with higher contributions from its offshore support vessel (OSV) chartering business and boosted by its acquisition of Scott and English Energy.

Revenue for the three months ended Sept 30 was S$35.9 million. For the nine months ended Sept 30 (9M), net profit reached S$20.1 million, 43.3 per cent higher than the S$14 million made in the same period last year.