Triyards Holdings posted a 2% growth in earnings to US$27.2 million ($37.6 million) for FY2015 ended August.
Group revenue rose 1% to US$270.1 million, with the contributions from Strategic Marine group acquired in Oct 2014. It was also boosted by the advanced construction for two self-elevating units, the contributions from four SEUs which were awarded contracts during the year, and the contributions from some industrial and offshore fabrication projects.
Triyards also recognised a US$4.5 million increase in other income, owing to the negative goodwill of US$3.6 million recognised from the SM Group acquisition, and the increase in sales of scrap from fabrication projects.
Triyards is anticipating a competitive and challenging environment in the next 12 months, with weakened oil prices resulting in a reduction and delay of oil and gas capital expenditure. However, it adds that its primary business is focused on fabricating assets which are involved in the construction, production, decommissioning, inspection and maintenance of offshore infrastructure servicing existing offshore fields, and is expected to see continued demand.
The group proposed a final dividend of one cent per share for the financial year.
Triyards’ shares closed 11.1% higher at 40 cents on Oct 19.
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Group revenue rose 1% to US$270.1 million, with the contributions from Strategic Marine group acquired in Oct 2014. It was also boosted by the advanced construction for two self-elevating units, the contributions from four SEUs which were awarded contracts during the year, and the contributions from some industrial and offshore fabrication projects.
Triyards also recognised a US$4.5 million increase in other income, owing to the negative goodwill of US$3.6 million recognised from the SM Group acquisition, and the increase in sales of scrap from fabrication projects.
Triyards is anticipating a competitive and challenging environment in the next 12 months, with weakened oil prices resulting in a reduction and delay of oil and gas capital expenditure. However, it adds that its primary business is focused on fabricating assets which are involved in the construction, production, decommissioning, inspection and maintenance of offshore infrastructure servicing existing offshore fields, and is expected to see continued demand.
The group proposed a final dividend of one cent per share for the financial year.
Triyards’ shares closed 11.1% higher at 40 cents on Oct 19.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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