Link: https://links.sgx.com/1.0.0/corporate-announcements/T6FBDQTGIGM8KFFK/ca719894dbb41d5774954be2761efdbffab4477207e000f1d2221225760cebdc

Summary:

• Revenue: S$350.1 million (flat vs. FY2024’s S$349.3m)

  • Shipbuilding: up 40.7% to S$84.9m (from higher barge deliveries)

  • Shiprepair, conversion and engineering: down 2.5% to S$169.6m

  • Shipchartering: down 16.9% to S$95.6m

• Net Profit: S$14.6 million (up 272% from S$3.9m in FY2024)

  • H2 FY2025 profit: S$13.1m (vs. S$2.4m in H2 FY2024)

• Gross Profit: S$60.7 million (up 32.8%); gross margin improved to 17.3% (from 13.1%)

• Earnings per Share: 1.48 cents (up from 0.58c)

• Net Asset Value: 11.29 cents/share (up from 10.25c)

• Balance Sheet: Total assets S$498.2m; cash & equivalents S$22.8m; total borrowings S$178.9m (down from S$227.4m)

• Outstanding Order Book: S$83 million for 31 vessels as at 30 June 2025; 3 new contracts secured since FY-end (worth S$3m)

• Dividend: Maintained; no reduction noted

Segment Highlights:

• Shipbuilding: Outperformed due to more barge completions

• Shiprepair/Conversion: Margins up despite slight revenue drop

• Shipchartering: Lower revenue on fewer overseas/towage jobs

Outlook: Management expects continued improvement, leveraging strong order book, prudent balance sheet, and focus on mainstream shiprepair, new build completions, and operational efficiency for FY2026.