Full year profits for ASL Marine declined due to a tougher operating environment for both its shipyard and ship chartering businesses, Seatrade Asia online reports. Singapore-listed ASL said that for the financial year ending 30 June, 2011 it recorded a net profit of S$31.9m, down 14% on the previous year. Revenues for the year were S$363m some 22% lower than the previous year.
“The group saw declines in all the three business segments namely, shipbuilding, shiprepair and conversion and shipchartering, due to the continued tough maritime business environment,” ASL said.
“The group saw declines in all the three business segments namely, shipbuilding, shiprepair and conversion and shipchartering, due to the continued tough maritime business environment,” ASL said.