Coastal Contracts Bhd has reported higher profit before tax of RM200.169 million for the year ended Dec 31, 2010 from RM163.107 million previously.

Revenue increased to RM675.255 million from RM466.058 million, the company said in a filing to Bursa Malaysia today.

For the fourth quarter 2010, its profit before tax increased to RM54.964 million from RM54.193 million while revenue rose to RM203.403 million from RM150.901 in the previous corresponding period.

'The current quarter's strong performance was underpinned mainly by the delivery of higher end vessels,' Coastal Contracts said.

It also said that barring adverse changes in the global and regional economic outlook, the company expected a reasonably satisfactory financial performance for 2011, backed by the strong revenue visibility of the shipbuilding division's vessel sales order book. -- Bernama