Triyards' Q4 earnings hit by revenue fall

Singapore

TRIYARDS Holdings registered a 49 per cent drop in net profit to US$5.3 million for the fiscal fourth quarter ended Aug 31 as revenue fell 36 per cent to US$48.8 million.

The year-on-year fall in earnings for the offshore engineering group would have been higher if not for a margin rise which helped gross profit drop just 9 per cent to US$13.2 million. The three months saw administrative expenses up 138 per cent at US$5.81 million. Financial expenses rose 54 per cent to US$1.2 million.