Nam Cheong Posts 21% Lower Q3 Profit; Shares Up 4%

MT Newswires

2024/11/14

Nam Cheong (SGX:1MZ) reported a net profit attributable to the owners of 47.1 million Malaysian ringgit for the quarter ended Sept.30, a 21% decrease compared with a profit of 59.8 million Malaysian ringgit in the previous year, according to a Wednesday filing with the Singapore Stock Exchange.

Earnings per share was 0.1174 Malaysian ringgit, compared with 0.7281 Malaysian ringgit in the prior-year period.

The global offshore marine company's revenue was 200.4 million Malaysian ringgit, a 34% increase compared with the 149.7 million Malaysian ringgit in the previous year.

The company's shares were up by 4% in recent trading.

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