Revenue in the same period was down 14.4% y-o-y to $52.7 million, with lower revenue from its shipyard operations, which was 28% y-o-y lower to $20.7 million.
On the other hand, its gross margin improved by 5.2 percentage points with a bigger proportion of revenue from its higher-margin chartering segment.
The company has recently deployed the Wind Archer, a commissioning service operation vessel (CSOV).
This will help bring in more chartering revenue in the coming quarters.
See also: Creative guides for ‘similar level of operating loss’ for 2HFY2025
"We are beginning to realise the benefits of our strategic investments over the past two years and expect a stronger performance in the second half of FY2025," says CEO Sean Lee.
Marco Polo Marine shares closed at 4.3 cents on May 8, down 2.27% for the day and down 14% year to date.
