Gross profit surged by 55.1% y-o-y to $45.7 million as gross profit margin (GPM) rose by 4.3 percentage points y-o-y to 13.1%. During the year, the ship chartering business reported a GPM of 2.1% compared to its loss in FY2023. The ship repair, conversion and engineering services business also saw GPM inch up by 1.3 percentage points to 24.4% while the shipbuilding business saw GPM plunge by 12.7 percentage points to 1.3%.
ASL Marine has reported earnings of $3.9 million for the FY2024 ended June 30, 10.6% higher y-o-y.
Revenue rose by 4.0% y-o-y to $349.3 million due to higher revenue from the group’s ship chartering business as well as its ship repair, conversion and engineering services business. This was partly offset by lower revenue from the group’s shipbuilding business.
