Stable Results at Triyards Shore Up Shares — Market Talk

0207 GMT [Dow Jones] Triyards Holdings (RC5.SG) rises 2.7% to S$0.385 after the shipbuilder reports a 28% rise in its fiscal third quarter revenue, though with a 13% drop in net profit to US$4.9 million. The company’s margins remain under pressure, but investors had likely expected weaker profit numbers amid the glut in the marine industry that has hurt yards globally. Triyards has sought to diversify its business in recent years and won 10 new clients in the last 12 months in chemical tanker and scientific research vessel markets, the company says. Triyards’ parent Ezra Holdings (5DN.SG), however, is down 4.2% at S$0.069. By comparison, the benchmark FTSE Straits Times Index of Singapore, where the two firms are listed, is down 0.5%. (gaurav.raghuvanshi[a]wsj.com)

 
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