In his Mar 3 report, Nicholas Yon from Lim & Tan highlighted that the company, which is also in the ship chartering business, delivered an “earnings beat” for 1HFY2026. “Overall, the results reflect both operating leverage and the early benefits of balance-sheet normalisation, supporting the sustainability of earnings momentum,” he writes. Yon maintains his “buy” call and raises his target price from 33 cents to 45 cents per share.
Analysts from Lim & Tan and UOB Kay Hian (UOBKH) have reiterated their confidence in Mainboard-listed ASL Marine after the shipyard reported an eight-fold jump in earnings from $2.1 million in 1HFY2025 to $17.1 million in 1HFY2026 ended Dec 31.
Revenue for ASL rose y-o-y by 5.5% to $181.6 million for 1HFY2026 with gross profit rising 24.4% y-o-y to $35.1 million. Notable was the decrease in finance costs which decreased by nearly 73% to $4.0 million which boosted the bottom line.
