A2SEA chalked up a profit of DKr276.5m ($51.3m) last year, compared to the DKr38.1m it pocketed in 2012.

The more than sevenfold rise in profits came as turnover grew at a more subdued clip of 7%, to DKr 1.22bn.

The company ascribes its much-improved performance to the expansion of its fleet – having received the Sea Installer in late 2012 from Chinese shipyard Cosco – and a healthy vessel-utilisation rate at CT Offshore, the Denmark-based offshore cabling firm it owns.

During