Triyards Holdings Limited reported unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2016. For the quarter, the company reported revenue of USD 82,077,000, profit from operations of USD 6,667,000, profit before tax of USD 4,932,000 and profit after tax attributable to owners of the company of USD 4,120,000 against revenue of USD 63,905,000, profit from operations of USD 6,716,000, profit before tax of USD 5,675,000 and profit after tax attributable to owners of the company of USD 5,424,000 a year ago. Net cash used in operating activities was USD 26,702,000 against net cash generated from operating activities of USD 33,128,000 a year ago. Purchase of fixed assets was USD 5,424,000 against USD 9,913,000 a year ago. The increases in revenue of third quarter and nine months of 2016 were mainly due to contributions from four units of self-elevating units, two units of multi-purpose support vessels, three units of chemical tanker and four units of escort tugs during the financial period; contribution from Strategic Marine Group for the construction of aluminium crew boats and wind farm vessels; and certain industrial and offshore fabrication projects. EBITDA was USD 9,448,000 against USD 9,716,000 a year ago.

For the nine months, the company reported revenue of USD 230,687,000, profit from operations of USD 21,676,000, profit before tax of USD 17,819,000 and profit after tax attributable to owners of the company of USD 15,559,000 or 4.79 cents per diluted share against revenue of USD 181,710,000, profit from operations of USD 20,740,000, profit before tax of USD 20,522,000 and profit after tax attributable to owners of the company of USD 18,749,000 or 5.83 cents per diluted share a year ago. Net cash used in operating activities was USD 50,579,000 against net cash generated from operating activities of USD 58,682,000 a year ago. Purchase of fixed assets was USD 11,968,000 against USD 15,795,000 a year ago. Additions to intangible assets was USD 77,000 against USD 548,000 a year ago. Net debt was USD 148,524,000 as on May 31, 2016 against USD 63,597,000 as on August 31, 2015.

For the quarter, the company reported fixed assets written off of USD 5,000 against USD 24,000 a year ago.