ASL Marine H1 net profit jumps to $17.1m

Interim dividend set at $0.0013 a share as finance costs fall 72.8%.

ASL Marine said net profit for the half-year ended 31 Dec 2025 rose to $17.1m from $2.1m a year earlier, topping its FY2025 full-year net profit of $14.7m.

The board declared an interim dividend of $0.0013 per share.

The group said revenue increased 5.5% to $181.6m, whilst gross profit climbed 24.4% to $35.1m as gross margin improved to 19.3% from 16.4%. It reported profit before tax of $19.6m, up from $5.3m, and said adjusted EBITDA rose 12.2% to $44.3m.

ASL Marine said Ship Repairs led the performance, with revenue up 9.7% to $93.3m and contributing 51.4% of group revenue. It attributed the increase to higher-value repair work and engineering product sales.

The group said Ship Chartering revenue rose 2.5% to $51.6m, whilst Shipbuilding revenue was stable at $36.8m. It also reported that finance costs fell 72.8% to $4.0m.

ASL Marine said its $132m five-year term loan secured in March 2025 had been reduced to $86.5m as at 31 Dec 2025. It added that a further $35m of prepayments is expected in H2 FY 2026 from vessel sales.

The group reported operating cash flow of $31.7m and cash and cash equivalents of $48.0m. It said net assets rose to $132.4m and net gearing improved to 0.77 times from 1.32 times as at 30 Jun 2025.

ASL Marine reported an external shipbuilding order book of about $49m and a ship chartering revenue order book of about $107m as at 31 Dec 2025.