DYNA MAC: Leader in FPSO and future of green hydrogen and renewable energy

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13 Aug 2021 08:55 #25847 by Sharpshooter
WATCH THIS GEM MASSIVE TURNAROUND !!

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13 Aug 2021 08:59 #25848 by Sharpshooter
MASSIVE JUMP INTO NETT PROFITS !!!





Revenue increased by $55.0m from $51.4m in the first half year ended 30 June 2020 (“1H2020”) to $106.4m in the half year ended 30 June 2021 (“1H2021”). The increase was mainly due to higher progress achieved for the projects carried out in 1H2021 (as opposed to production stand-down in 2Q2020). Gross profit/(loss) improved from $0.3m gross loss in 1H2020 to gross profit of $11.5m in 1H2021. The gross profit was mainly due to higher recognition of revenue as stated above.



Cash and cash equivalents increased by $37.2m from $46.2m as at 31 December 2020 to $83.4m as at 30 June 2021 mainly derived from higher collection during the period



Notwithstanding the COVID-19 pandemic, the Group has benefitted from the resurgence of the FPSO market, illustrated through the various contracts won for a total amount of S$319m as announced in 1H2021 to date. With the recent fabrication contract award from China Merchants Heavy Industry (Jiangsu) Co. Ltd., the Group is also strengthening its the Project Management Team in China for contract execution. At the same time, the Group continues to explore projects in the green energy space

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