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Marco Polo Marine's FY2022 earnings jump on higher chartering income

The Edge Singapore
The Edge Singapore • 2 min read
Marco Polo Marine's FY2022 earnings jump on higher chartering income
"We are committed to targeting our collective efforts and resources towards meaningful change in the renewables sector,” says CEO Sean Lee / Photo: Albert Chua
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Marco Polo Marine has reported earnings of $10.5 million for 2HFY2022 ended Sept 30, up 19.3% y-o-y. Revenue in the same period was up 133.9% to $58.5 million, as the company booked more chartering income.

Adjusted net profit, which excludes forex and one-offs such as reversal of impairment loss on receivables and one-off gains, was $11.6 million, a 370.2% y-o-y surge.

For the whole of FY2022, Marco Polo reported earnings of $21.3 million, up 44.4%; revenue was up 86.7% to $86.1 million.

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