Hamburg ship and asset manager Ernst Russ has logged higher earnings in the first half as its restructuring pays off.

The company said net profit was EUR 3.1m ($3.71m) to 30 June, against EUR 0.8m in the same period of 2016.

Revenue was up at EUR 20.8m from EUR 17m.

Shipping management revenue more than doubled from EUR 4.1m to EUR 8.6m,