Coastal Contracts has seen a substantial drop in its second quarter net income, but managed to remain in the black.
The Malaysian-listed shipbuilder made MYR 4.9m ($1.1m) versus the net profit of MYR 13.3m seen twelve months earlier.
The company saw revenue for the quarter shrink by over two-thirds to MYR 58.4m, but costs fell by 73.5% to MYR 38m.
The second quarter result means Coastal Contracts has posted an interim net profit of just over MYR 8m versus the MYR 37m seen at the same stage in 2015.
Coastal
