The spin-off of Ezra Holdings booked net profitof $7.8m for the three months ended 28 February, up 9% on the same period ayear ago.

Revenue edged down by 6% to $74.5m, it revealed in a statement to the Singapore Stock Exchange.

Triyards specialises in building self elevating jack up unitsbut recently secured more ship repair and offshore fabrication work.

The company owns two yards in Vietnam and one in Texas butshelved plans for another in Western Australia after a potential deal fellthrough early in the New Year.