At work: the Dockwise heavy transport vessel Mighty Servant-1
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Dockwise floats bottom line
Heavy transport company Dockwise reported a 35% surge in second quarter net profit compared to the same time a year ago.
The Bermuda-based outfit posted net profit of $17 million for the quarter ending June versus $13 million over the same period a year ago.
Dockwise’s bottom line was bosted by fleet expansion and overall average higher contract values, combined with a reduction in the level of direct and administrative expenses.
Total revenue for the period increased by 2.4% to $118.7 million versus $115.9 million over the same period last year.