The offshore company said net profit in the year to 30 June was AUD 53.88m ($50m) from AUD 60.29m in the previous 12 months.
Revenue increased to AUD 594m from AUD 449m, but vessel expenses jumped to AUD 386m from AUD 239m.
It said the second half result was strong, however, based on improved earnings from vessel operations in Australia and internationally.
Mermaid
