The Indonesian offshore vessel operator booked net income of $7.6mversus the $5.8m achieved in the first three months of 2013.

Revenueincreased year-on-year by 167% to $45.5m helped by a 42% increase in revenuefrom its owned vessels, which command higher margins.

Wintermar’s overall gross margins rose nine percentagepoints year-on-year to 38%, mainly due to a better revenue mix.

“Thefirst half of 2014 is likely to be dominated by the ongoing Indonesianparliamentary and presidential elections,” the company said.

“Asa