The growth was driven by the shipbuilding & repair segments, as well as higher average utilisation and charter rates for its vessels.
RHB Bank Singapore's Alfie Yeo has kept his "buy" call and raised his target price for Marco Polo Marine (SGX:5LY
) from 6 cents to 7 cents, with better earnings growth seen fo the coming FY2025.
For the year to Sept 2023, Marco Polo reported better-than-expected core earnings of $22 million, up 97% y-o-y, on the back of a 48% y-o-y increase in revenue to $127 million.
