Nam Cheong’s net profit skyrockets by 112% in 3Q

It’s the company’s strongest quarter since listing on the SGX.

The momentum of Nam Cheong’s order wins remains robust, with Nam Cheong securing a record order of 25 vessels worth approximately US$505m on a YTD basis.

In a media release, Nam Cheong today reported an 81% rise in revenue to RM618.6 million for the three months ended September 30, 2014 from RM341.2 million in the corresponding period last year. The robust top lineperformance boosted 3Q 2014’s net profit by 112% to a record RM125.6 million from RM59.2 million in 3Q 2013.

For the nine months ended September 30, 2014, Nam Cheong’s overall revenue saw a 65% rise to RM1.4 billion, up from RM851.3 million in the corresponding period last year. Over the same period, net profit rose 91% to RM260.0 million from RM136.0 million in 9M 2013.