ST Marine is expecting lower revenue for the second-half of this year despite improved revenues in the second-quarter over last year, Seatrade Asia online reports. Net profit for the marine arm of ST Engineering, however, dipped marginally to S$20.4 ($16.9m) in the second-quarter compared to S$20.9m in the same quarter of 2010.
Revenue rose 5% to S$258m in the quarter compared to S$246m in the corresponding period of last year.
“Revenue for the second-quarter of 2011 at S$258m was higher than that of the second-quarter of 2010 by 5% or S$12m due mainly to higher ship repair activities,” ST Marine said.
“Barring unforeseen circumstances, revenue for the second-half of 2011 is expected to be lower whilst profit before tax is expected to be higher compared to the first-half of 2011,” it added.
Revenue rose 5% to S$258m in the quarter compared to S$246m in the corresponding period of last year.
“Revenue for the second-quarter of 2011 at S$258m was higher than that of the second-quarter of 2010 by 5% or S$12m due mainly to higher ship repair activities,” ST Marine said.
“Barring unforeseen circumstances, revenue for the second-half of 2011 is expected to be lower whilst profit before tax is expected to be higher compared to the first-half of 2011,” it added.