ASL Marine profit jumps 176% on higher gross earnings, lower finance costs

Revenue rose slightly as ship repair and chartering helped offset weaker shipbuilding contributions.

ASL Marine Holdings’ net profit surged 176.1% to $25.4m for the nine months ended 31 March 2026, from $9.2m a year earlier, driven by higher gross earnings and lower finance costs.

Revenue rose 2.0% to $271.1m, supported by higher contributions from its ship repair, conversion and engineering services segment, as well as its ship chartering business. This was partly offset by lower revenue from the shipbuilding segment.

Gross profit increased 16.6% to $50.7m, from $43.5m in the previous corresponding period, mainly due to stronger performance from the ship chartering segment.

The group’s overall gross profit margin improved by 3 percentage points to 19%. ASL Marine said the gross profit margin of its ship repair, conversion and engineering services segment remained above 20%, whilst the margin of its ship chartering segment improved to 18% in 9MFY2026.

Adjusted earnings before interest, taxes, depreciation, and amortization rose 3.3% to $65.0m, from $62.9m a year earlier.

The company said finance costs fell by about $10m during the period as its deleveraging efforts continued to gain pace.