Singapore’s Marco Polo Marine said strong rebounds in its core shipyard and offshore support vessel businesses brought in healthy returns during the third quarter of its 2022 financial year.

The offshore services and shipyard company on Wednesday reported a gross profit of SGD 9.7m ($7m), which it said was triple the amount it earned in the corresponding period of 2021.

Marco Polo said shipyard and offshore vessel chartering segments experienced tremendous growth brought in revenue of SGD 28.5m,