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Marco Polo Marine reports better 1HFY2022 earnings of $10.8 million, lifted by one-offs

The Edge Singapore
The Edge Singapore5/12/2022 08:56 AM GMT+08  • 2 min read
Marco Polo Marine reports better 1HFY2022 earnings of $10.8 million, lifted by one-offs
"We are still very much determined to pursue our goals for expansion in the renewable energy sector," says CEO Sean Lee / Photo: Albert Chua
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Marco Polo Marine has reported earnings of $10.8 million for 1HFY2022 ended March, up 82% y-o-y.

While revenue and margins were both up, the company’s bottomline was lifted by one-off items specifically a revaluation gain of $5.2 million of its equity interest in its Indonesia-based unit PT BBR.

With these non-recurring items are stripped out, Marco Polo’s earnings would be $1.2 million, versus a loss of $0.3 million in the year earlier period.

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