Labroy Marine reports significant increase in profitYard News // August 17, 2006
Labroy Marine in Singapore, a well knwon builder of offshore support vessels and a range of other vessel types, has reported a 29 per cent increase in profit to S$35.4 million for the half year ended June 30.
The company said the jump is due mainly to improved profit margins in the shipbuilding segment and gains from disposals.
Profit for the second quarter rose 18 per cent to S$16.6 million.
Turnover increased by almost 16 per cent to S$254 million for the first half.
Labroy's shipbuilding division was the star performer, with a 21.5 per cent increase in revenue to S$144 million.
The company's outstanding shipbuilding order book stands at S$1.25 billion.