Labroy shipyard sees sharp rise in profit

Yard News - August 19, 2005

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Labroy Marine Ltd in Singapore has reported a whopping 60 per cent leap in quarterly profits which it attributes to increased sales in its core shipbuilding business, and lower costs.

The company, the value of whoses shares have more than doubled this year, announced that it has recorded second-quarter net profit of S$14.02 million (US$8.5 million) compared to S$8.76 million in the same period last year.

In July, Labroy forecast a double-digit increase in sales and profits in 2005.

 

 

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