Philly Shipyard turned in an improved second quarter profit and has guided for lumpy income in the next few quarters.

Oslo-listed Philly Shipyard booked a profit of $5.4m in the three months to the end of June, beating the $2.2m seen a year ago.

The company finished the quarter with seven vessels under construction, an orderbook worth $931m stretching into the first quarter of 2019.

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