ASL Marine Holdings Ltd., a prominent marine services group, has announced a net profit of S$17.1m for the first half of FY2026, exceeding the full-year net profit of S$14.7m for FY2025. The company’s ship repairs segment led the revenue growth, increasing by 9.7% to S$93.3m. This growth, coupled with a higher gross margin of 19.3%, resulted in a 24.4% rise in gross profit to S$35.1m.
The company has also made significant strides in reducing its finance costs by 72.8% to S$4.0m, thanks to ongoing deleveraging initiatives. ASL Marine’s Managing Director, Ang Kok Tian, highlighted the strength of their recalibrated service-centric business model, particularly in the ship repairs segment. “We are encouraged by the result of our first-half net profit that has already surpassed last year’s full-year figure,” he stated.
ASL Marine’s balance sheet has strengthened, with cash and cash equivalents more than doubling to S$48.0m. The company maintains a healthy cash flow from operating activities, generating S$31.7m in H1 FY2026. The group’s outstanding shipbuilding order book stands at approximately S$49m, with ship chartering revenue order book at S$107m.
Looking ahead, ASL Marine remains optimistic about growth prospects, buoyed by the resilient marine industry and Singapore’s S$100b coastal protection initiatives. The company has declared an interim dividend of 0.13 SG cents per share, reflecting its commitment to rewarding shareholders amidst improved performance.
