The Singapore-listed anchor handler and shipyard operator reported fourth quarter net income of SGD 2.5 ($1.9m) versus SGD 4.1m a year ago.
Revenue was down 17% year-on-year to SGD 23.6m, while the cost of sales increased by 25% from SGD 18.7m to SGD 14m.
MPM’s shipbuilding operation saw revenue decline 34% chiefly as a result of reduced utilization of its three dry docks as well as fewer newer newbuilding contracts from external customers.
Revenue
