ASL Marine booked a healthier set of results for its first-quarter ended 30 September 2011 on higher contributions from its shiprepair and chartering businesses, Seatrade Asia online reports. The Singapore-listed company posted net profit of S$8.5m ($6.6m) during the quarter compared to S$8m in the same period of last year.
Revenue also rose to S$83.1m compared to S$81.4m a year ago. ASL has an outstanding orderbook with respect to long-term ship chartering contracts amounting to approximately S$57m.
“Going forward, the challenging market conditions and strong competitive pressures remain imminent headwinds that cannot be ignored,” said Ang Kok Tian, chairman and managing director of ASL.
Revenue also rose to S$83.1m compared to S$81.4m a year ago. ASL has an outstanding orderbook with respect to long-term ship chartering contracts amounting to approximately S$57m.
“Going forward, the challenging market conditions and strong competitive pressures remain imminent headwinds that cannot be ignored,” said Ang Kok Tian, chairman and managing director of ASL.