Rotary Engg back in the black in Q3

CONTINUING its turnaround from its earlier Saudi woes, specialist oil and gas contractor Rotary Engineering posted a Q3 net profit of $7.9 million on the back of a 60 per cent revenue increase to $184.5 million - from a net loss of $66.2 million and revenue of $115 million a year ago.

Earnings per share were 1.4 cents compared with a loss per share of 11.7 cents a year earlier.

This brought net profit for the first nine months to $15.6 million, compared with a loss of $62 million in the same period last year. Revenue rose 15 per cent to $413.5 million from $360 million.