$MarcoPolo Marine (5LY.SG)$ UOB KH maintain buy and raised t...

UOB KH maintain buy and raised their tp to 0.07 from 0.066.

Marco Polo Marine surpassed expectations with its 1QFY24 performance, which saw revenue and gross profit growing 22.8% yoy and 75.8% yoy respectively despite the traditionally quieter monsoon period. Gross margin expanded by 12.1% yoy, on the back of higher average charter and utilisation rates.

They continue to like MPM for its prime position which is likely to benefit from the growing APAC offshore wind market.