ASL Marine 1H FY2026 net profit jumps to S$17.1m, beating full-year FY2025; interim dividend of 0.13 cent declared
Summary:
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Revenue grew 5.5% year on year to S$181.6m in 1H FY2026, led by a 9.7% rise in Ship Repairs to S$93.3m and steady contributions from Ship Chartering and Shipbuilding.
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Gross profit increased 24.4% to S$35.1m, lifting gross margin to 19.3% from 16.4%, while net profit surged to S$17.1m versus S$2.1m a year earlier, already surpassing FY2025’s full-year net profit of S$14.7m.
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Finance costs fell 72.8% to S$4.0m as deleveraging gained traction; the S$132m five-year “Club Deal 2” term loan has been reduced to S$86.5m, with a further S$35m of prepayments from vessel sales expected in 2H FY2026.
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Operating cash flow remained strong at S$31.7m, helping cash and cash equivalents more than double to S$48.0m and improving net gearing sharply to 0.77x from 1.32x as at 30 June 2025.
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The board declared an interim dividend of 0.13 Singapore cent per share and highlighted a positive outlook anchored by resilient marine repair demand and Singapore’s planned S$100bn coastal protection initiatives.