Tanjung Offshore improved its second-quarter results as it won more engineering equipment and maintenance contracts, Seatrade Asia online reports.The Malaysia-based offshore services firm recorded second-quarter net profit of RM7.5m ($2.5m) compared to RM3.6m in the same period of 2010. It posted revenue of RM183.1m in the period compared to RM137.2m a year ago.
“In line with higher revenue from the equipment and maintenance services coupled with higher utilisation of our offshore support vessels from a more robust market, net profit after tax increased by 110.03%,” it announced to Bursa Malaysia.
In the first six months of this year, however, net profit for Tanjung Offshore fell to RM4.4m compared to RM6.7m in the corresponding period of last year.
“In line with higher revenue from the equipment and maintenance services coupled with higher utilisation of our offshore support vessels from a more robust market, net profit after tax increased by 110.03%,” it announced to Bursa Malaysia.
In the first six months of this year, however, net profit for Tanjung Offshore fell to RM4.4m compared to RM6.7m in the corresponding period of last year.