The joint venture of Mermaid Marine Australia and Singapore-listed Jaya posted profit of $37.7m, up from $24.2m in the corresponding period of 2013.
Revenue almost doubled from $253.5m to $456.3m, boosted by the addition of the Jaya fleet to the merged company.
MMA revealed its target to reduce costs by $15m as it expects a weaker second half due to a project due for completion and pressure on rates.
It
