Triyards Holding has reported an 81% slump in fourth quarter net profit, in figures released Friday morning.

The Singapore-listed group said pre-tax profits were just $1.8m versus the $9.4m seen a year ago, despite revenue increasing 7% to $94.2m.

The company, which has facilities in Vietnam and the US, was hurt by a 19% increase in costs which came in at just over $82m.

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