MISC second quarter profits up 14.7%
Malaysia International Shipping Corp. Berhad recorded a pre-tax profit of $175.1 million for the quarter ending Sept. 30, a 14.7 percent climb over the corresponding quarter in 2004, the company said Monday.
Year-to-date profits before tax were up 8.9 percent to $340.5 million. MISC attributes the improved results to lower depreciation and fleet manning cost arising from the disposal of vessels this year, as well as MISC's heavy engineering arm returning to profitability.