Triyards Holdings Limited reported unaudited consolidated earnings results for the fourth quarter and full year ended August 31, 2015. The group reported revenue of $88,403,000, profit from operations of $10,226,000, profit before tax of $9,411,000, profit after tax attributable to owners of the company of $8,405,000 against revenue of $48,769,000, profit from operations of $7,528,000, profit before tax of $6,307,000, profit after tax attributable to owners of the company of $5,297,000 a year ago. Net cash used in operating activities was $327,000 against net cash generated from operating activities of $27,614,000 a year ago. Purchase of fixed assets was $1,200,000 against $6,482,000 a year ago. The increase in revenue was mainly due to significant contributions from the four units of SEU as mentioned above, which have progressed into advanced stages of construction during fourth quarter of 2015, and partly due to contributions from SM Group. Increase in profit before tax was mainly due to the increase in gross profit, which was partially offset by the increase in administrative expenses. ROE as at August 31, 2015 was 13.02% against 15.75% a year ago.

For the full year, the group reported revenue of $270,113,000, profit from operations of $34,847,000, profit before tax of $29,933,000, profit after tax attributable to owners of the company of $27,154,000 or 8.43 cents per diluted share against revenue of $268,620,000, profit from operations of $35,523,000, profit before tax of $31,082,000, profit after tax attributable to owners of the company of $26,665,000 or 9.04 cents per diluted share a year ago. Net cash generated from operating activities was $58,355,000 against net cash generated from operating activities of $7,723,000 a year ago. Purchase of fixed assets was $16,995,000 against $13,187,000 a year ago. The increase in revenue was mainly due to: two units of self-elevating units ­ one from BH335 series and one from BH300 L4T ­ which had reached advanced stages of construction as at August 31, 2015; contributions from the acquisition of SM Group; four units of SEU, contracts of which were awarded in fiscal year 2015, had made significant contributions during the financial year; and certain industrial and offshore fabrication projects. The decrease in profit before tax was mainly due to the increase in administrative expenses and finance expenses, which was partially offset by the increase in gross profit and other income. EBITDA was $47,941,000 against $43,314,000 a year ago. Net asset value per ordinary share was $64.32 against $57.37 a year ago.