- We are upbeat on Marco Polo Marine (SGX:5LY) as we remain positive on growth prospects going forward.
- Marco Polo Marine’s new Commissioning Service Operation vessel (CSOV) is due to be deployed in FY25F, and with construction of offshore windfarms in growing demand, we are positive on the vessels’ strong utilisation and charter rate growth driven by CSOV.
- - Read this at SGinvestors.io -
1HFY24 in line.
- Marco Polo Marine reported 1HFY24 revenue of S$62m (+10% y-o-y) and net profit of S$12m (+106%), which are within our estimates, Revenue was mainly driven by higher charter rates in the ship chartering segment (S$33m, +34% y-o-y). Average charter rates grew 17% y-o-y, while average utilisation rates softened to 60% due to timing issues in temporal project deployment.
- - Read this at SGinvestors.io -
Firm outlook ahead.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2024-05-27
Read also RHB's most recent report:
2025-01-13 Marco Polo Marine - Higher Capacity To Drive Growth; Maintain BUY.
Previous report by RHB:
2024-10-17 Marco Polo Marine - Growth Remains Well Supported; Maintain BUY.
Price targets by 2 other brokers at Marco Polo Marine Target Prices.
Listing of research reports at Marco Polo Marine Analyst Reports.
Relevant links:
Marco Polo Marine Share Price History,
Marco Polo Marine Announcements,
Marco Polo Marine Dividend Payout Dates & Corporate Actions,
Marco Polo Marine News
