Penguin International, the integrated marine and offshore services group with interests in shipbuilding and repair, ship operating and ship management, says the group achieved an 8.8% increase in net profit to $4.2 million for the third quarter ended 30 September 2009 (3Q09).

This result was achieved on the back of a 24.1% rise in group revenue to $36.2 million in 3Q09 — without any significant contribution from vessel sales. Over the period, higher chartering and shipbuilding revenue was partially offset by a decrease in bunkering revenue.