Shipergy Ltd (Shipergy) today reported audited results for the financial year ended March 31 , 2025, showing another year of significant gains in gross profit.

The marine fuel trading and digital solutions company followed last year’s strong result, where it tripled gross profit to $1.56 million for 2023/24, by this year recording a gross profit of $3.2 million, more than double the figure from the previous year.

The company also reported that cash reserves rose from $2.2 million to $6.3 million.

This growth came despite an expansion of its workforce and ongoing investment in technology and infrastructure, the firm noted.

Revenue for the year was $183.4 million, broadly in line with the previous year despite Shipergy noting the average prices for VLSFO falling from around $650/mt to $550/mt over the course of the period.

Volumes traded increased over the 350,000 mt recorded last year, although no specific total has yet been given for 24/25.

The company also expanded its operations during the year, opening new offices in Greece and Dubai, while continuing to develop its in-house software.

Daniel Rose, CEO of Shipergy, described the performance as evidence of resilience in difficult market conditions.

“Gross profit growth of over 100% is a standout achievement in a very challenging operating environment,” he said.

“Holding revenues steady while fuel prices fell demonstrates the strength of our client base and the growth of our traded volumes.”