The Singapore-listed group reported net income of $5.3m for the three months ended 31 August versus the $10.3m seen a year earlier.
Revenue for the quarter was down 36% on a year ago to $48.7m, but costs were down 43% year-on-year to $35.6m.
Triyards attributed the decline to the differences in construction status of the major projects undertaken by the group.
Looking ahead, Triyards said with the rise of new players in Asia, especially from China, the group expects the next 12 months to be more competitive and challenging.
“Demand
