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.

https://www.janes.com/defence-news/news-detail/austal-posts-strong-profit-gains

Australian naval shipbuilder Austal has posted a decline in revenues but gains in earnings and profi...

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