In its ship chartering business, revenue decreased by 13% y-o-y mainly due to lower third party chartering income from Taiwan. This decrease was partially offset by higher charter rates of utilised vessels and marginal improvement of 1 ppt in average fleet utilisation.
Marco Polo Marine has recorded a 11% y-o-y decline in its revenue for the 1QFY2025 ended Dec 31, 2024 of $25.8 million, following lower revenues from both its core ship chartering and shipyard segments.
As such, the group’s gross profit dropped 9% y-o-y for the reporting period to $10.6 million, while gross profit margin improved by 1.1 percentage points (ppts) y-o-y.
