Marco Polo Marine H2 profit quadruples to S$47.9m on impairment reversals

[SINGAPORE] Marco Polo Marine posted on Saturday (Nov 29) a nearly four times rise (348 per cent) in net profit to S$47.9 million for its second half ended Sep 30, 2025, from S$10.7 million in the previous corresponding period.

For the full year, net profit also surged 169.7 per cent to S$58.5 million, from S$21.7 million the year before. 

This was attributed to a combination of stronger underlying performance and several extraordinary gains, including an S$22.4 million reversal of impairment loss on certain vessels and a S$5.9 million reversal of impairment loss on an amount due from a joint venture.

Excluding the extraordinary gains, net foreign exchange effects and other non-core operational gains or losses, the adjusted net profit for FY2025 stood at S$25.2 million.

Earnings per share for H2 stood at S$0.0046, up from S$0.0028 in the previous corresponding period.

Revenue for the second half rose about 13 per cent to S$70.1 million, from S$62 million a year earlier. This was driven by a 24 per cent increase in revenue from ship chartering operations to S$48.2 million, following the expansion of the group’s offshore vessel fleet.

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On a full year basis, the revenue decreased to S$122.8 million in FY2025 from S$123.5 million in FY2024. This decrease was mainly due to a 17.4 per cent decline in shipyard revenue.

A final dividend of $S0.0015 cent per share was declared for the full year, up from S$0.0010 cent the year before. The date payable will be announced later.

Shares of Marco Polo Marine closed at S$0.117 on Friday, S$0.002 or 1.7 per cent lower.