Triyards 1Q Profit growth from Liftboat Contracts
Triyards Holdings Limited announced its 1Q results. Despite a 37% year-on-year drop in 1Q Revenue to US$ 56.7million, 1Q PAT rose 13% to US$ 8.2million. The results were attributed to its pipeline of liftboat contracts as well as contributions from its recently acquired Strategic Marine Group. This increased its gross margin from 14.2% to 22.9% for the quarter. Separately, Triyards also announced that it had won 2 liftboat fabrication contracts worth US$ 75.4million. These are for US-based operators. Its current liftboat pipeline stands at 8 vessels. 5 of these have been secure in the last 6 months. Going forward, Triyards feels that it is in a good position to grow its earnings base despite weak oil price.
GET TO THE POINT : Good to find a good niche. Also there is a good optimism and confidence despite weak oil prices.
(Picture from Triyards Holdidngs Limited)
Related Articles:
The Impact of Mermaid Maritime’s reorganizing its Subsea Business
Yongnam Consortium officially clinches Myanmar Airport Project
The post Triyards 1Q Profit growth from Liftboat Contracts appeared first on Asean Equities Review.