ASL Marine Holdings, the integrated marine company offering comprehensive services in shipbuilding, shiprepair and conversion and shipchartering, reported a 6% y-o-y rise in net profit of $8.5 million for the three months ended 30 September 2011 (1Q FY2012). Revenue rose 2% to $83.1 million for the same period.
The group’s revenue increased 2% year-on-year to $83.1 million for 1Q FY2012 as a result of comparatively higher revenue contributions from its shiprepair and conversion and shipchartering business segments, partially offset by decline in revenue from the shipbuilding operations.
The group’s gross profit decreased 11% y-o-y to $9.6 million for 1Q FY2012. Gross profit margin also registered a decline from 13.3% in 1Q FY2011 to 11.5% in 1Q FY2012. The decline in gross profit and gross profit margin was mainly due to lower earnings from shipbuilding and shipchartering operations.
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