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TRIYARDS wins US$75M in new liftboat orders

January 8, 2015

Singapore-based offshore vessel fabrication and engineering services provider TRIYARDS Holdings, received US$75.4 million in new liftboat orders.

The latest liftboat contracts extend TRIYARDS’ earnings visibility into its financial year ending 31 August 2016 (FY16), the company said. In the last six months, TRIYARDS has received five new orders, increasing its newbuild orders to eight.

The two new orders amounting to a total of $75.4 million are next generation four-legged liftboats expected to be delivered to US-based operators. Each unit can accommodate 150 persons each and can be utilized for global deployment.

TRIYARDS CEO Chan Eng Yew, said: “Our pace of recent contract wins reflects confidence in our ability to meet exacting industry standards and expectations of our discerning clients. We will remain focused on strengthening our lead in liftboats in Asia, the Middle East and West Africa.”

TRIYARDS also reported its financial results for the first three months ended 30 November 2014 (1QFY15). Turnover came in at $56.7 million, supported by ongoing liftboats projects as well as revenue from an offshore fabrication project and the contribution of experienced aluminium shipbuilder, the St TRIYARDS also reported its fin

ancial results for the first three months ended 30 November 2014 (1QFY15). Turnover came in at $56.7 million, supported by ongoing liftboats projects as well as revenue from an offshore fabrication project and the contribution of experienced aluminium shipbuilder, the Strategic Marine Group (SM Group).

The improved gross profit, together with $4.2 million in net other income offset the company's additional administrative and financial expenses (mainly as a result of the acquisition), resulting in a 13% increase in 1QFY15 net attributable profit to US$8.2 million.

Image: TRIYARDS



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