The Singapore-based yard recorded higherrevenues but also say a drop in contributions from joint ventures, while someof its business streams had much weaker results.

Net profit for the year to the end ofDecember was S$588.26 million (US$464.6 million) as compared with S$567.44million in 2012.

Revenues rose from S$4.43 billion to S$5.53billion but costs were well ahead, up from S$3.74 billion to S$4.82