Published:
Triyards’ net profit drops by 2% to US$13.9m
On back of the tough operating environment.
Even with a fat and diversified order book, the tough operating conditions did not spare the marine from a tough net profit drop, despite a 28% rise in its revenue to US$82.1m.
According to a report by OCBC, in line with the firm’s working capital requirements, the group’s net debt to equity rose to 0.67x from 0.31x as at end FY15.
“About 94% of its borrowings of US$168.9m relates to working capital financing,” OCBC Research noted.
Meanwhile, compared to its peers, Triyards has a more diversified order book in terms of products offerings and clientele base, which is important in today’s tough operating environment.
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