ASL Marine Announces Turnaround and Positive Cash Flow

ASL Marine Holdings Ltd. (SG:A04) has released an update.

ASL Marine Holdings Ltd. reported a decrease in revenue in 3Q FY2024 by 10.6% due to lower shipbuilding contributions, yet saw an overall year-to-date revenue increase of 13.1% driven by shiprepair and shipchartering. Despite a lower third-quarter profit before tax compared to the previous year, the company experienced a significant turnaround with a profit before tax in 9M FY2024, contrasting the loss from the same period last year. The Group also boasted an increase in Adjusted EBITDA and continues to generate positive cash flow from operations.

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