Mermaid Marine profits up 36% to $12.5m

Fremantle-based marine services company Mermaid Marine Australia Ltd has secured a net profit of $12.5 million, up 36 per cent on the previous year's results, the company has announced.

The company had increased revenue by 54 per cent to $103.1 million, with earnings before interest, tax, depreciation and amortisation also up 42 per cent to $27.5 million.

Earnings per share was up 35 per cent to 8.9 cents, with the company issuing a fully franked divided of 1 cent per share in early October.