Marco Polo Marine Ltd. reported unaudited group earnings results for the first quarter ended December 31, 2011. For the quarter, the company reported revenue of SGD 24.56 million, profit before tax of SGD 4.93 million, net profit attributable to shareholders of SGD 4.35 million or 1.28 cents per basic and diluted share compared to revenue of SGD 19.37 million, profit before tax of SGD 4.53 million, net profit attributable to shareholders of SGD 4.0 million or 1.19 cents per basic and diluted share for the same quarter year ago. EBITDA was SGD 7.0 million compared to the SGD 6.7 million for the same quarter year ago. ROE was 3.5% compared to the 3.2% for the same quarter year ago. Profit from operations was SGD 5.23 million compared to SGD 5.18 million a year ago. Net cash used in operating activities was SGD 10.62 million compared to SGD 14.44 million a year ago. Purchase of property, plant and equipment was SGD 6.23 million compared to SGD 38.23 million a year ago. The increase in revenue was attributed mainly to the group's Ship Building & Repair Operations, which posted strong growth of 58.0% to SGD 18.8 million from SGD 11.9 million in first quarter of fiscal year 2011. The group expects its overall results to outperform in fiscal year 2012 compared to fiscal year 2011.