Ship builder Austal
(ASX:ASB) has reported a $15.5 million net profit for the six months to December 31, 2009, and is headed for a strong second year result thanks to a solid order book.
The result is down 8.5% from the previous corresponding period as a result of reduced commercial sales orders for the company’s Australian operations due to the global financial crisis.
However, the company closed the half year with work in hand of $776.6 million, and in January was awarded two joint high speed vessels for the US Defense Department.
Austal reported a profit of $9.17 million for the 12 months to June 30, 2009.
