Friday, November 26, 2010
MarcoPolo (MPM): 4Q Sept results in, rev at $14.7m +1.0%yoy, -33.1%qoq, net profit at $2.8m +52%yoy, -31.9%qoq. Margins were up 35.6% compared to 34.7% prev yr and 22.8% last quarter, driven by its ship repair segment. The fall in profit qoq was attributable to decrease in contributions from associated co. Recent contracts incld 6 units of barges at $8.3m and co has plans to acq 2 Australian OSVs with existing charter contracts for A$21.5 in a sale-and-leaseback.