Vallianz faces pressure on gross profit margin

Singapore

VALLIANZ Holdings posted a 13.2 per cent increase to US$4.66 million in fourth-quarter profit attributable to equity-owners. But the offshore support vessel (OSV) owner-operator noted pressure on its gross profit margin and a decrease in vessel management revenue in tandem with its efforts to mitigate its topline exposure to Swiber Holdings.

Helping the results were S$1.61 million in losses attributed to non-controlling interests. Ignoring this, net profit fell 35.4 per cent to US$3.05 million.