26 February 2021
Austal posts strong profit gains
by Jon Grevatt
Australian naval shipbuilder Austal has posted a decline in revenues but gains in earnings and profits during the first half of fiscal year 2021-22, the company announced on 26 February.
Austal said its revenues in the six months to 31 December were AUD840.3 million (USD660 million), a decrease of 19% compared to the corresponding period last year.
Despite the decline, Austal said its earnings before interest and taxes (EBIT) increased by nearly 18% to AUD70.5 million and that net profit after tax surged by nearly 29% to AUD52.4 million.
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Australian naval shipbuilder Austal has posted a decline in revenues but gains in earnings and profi...
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