Marco Polo Marine Ltd. (SG:5LY) has released an update.
Marco Polo Marine Ltd. has reported a 2.6% year-on-year increase in gross profit for the third quarter of FY2024, amounting to S$14.6 million despite a revenue drop of 4.6%. This growth is attributed to the solid performance in its Ship Chartering segment and an expansion in gross profit margin by 3.1 percentage points. The rise in profit occurred even as one of its dry docks was dedicated to constructing a commissioning service operation vessel, limiting third-party work.
For further insights into SG:5LY stock, check out TipRanks’ Stock Analysis page.
