Triyards Q4 profit falls 32%

TRIYARDS Holdings posted a net profit of US$10.3 million for its fourth quarter ended Aug 31, 2013, down 32 per cent from US$15.2 million a year ago, hit by reduced revenue contribution from a major shipbuilding project that is almost completed.

Revenue for the quarter was US$76.7 million, down 7 per cent from US$82.1 million a year ago.

Triyards proposed a final dividend of two Singapore cents per ordinary share, the first such payment since the company, named after Ezra Holdings' three fabrication and engineering yards, was spun off and listed on the mainboard last October.