Rotary Engg Q1 earnings shoot up to $14.4m
THANKS to a near doubling in revenue and better gross profit margin, Rotary Engineering posted a quantum leap in first-quarter earnings.
The specialist oil-and- gas contractor recorded a net profit of $14.4 million or 2.5 cents per share for the January-March quarter, up from $2.5 million or 0.4 cent per share a year ago.
Revenue for the quarter was $199.2 million - up from $102.8 million a year ago - as execution of its current projects gained momentum.
"We started this year on a good note," said chairman and managing director Chia Kim Piow at a briefing yesterday. "The good and encouraging Q1 results were in part contributed by our productivity efforts in an environm…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apac Realty enters the Philippines with franchise agreement
Aztech Global Q1 net profit up 18.7% to S$16 million on foreign exchange gains, write-backs
UPS profit beats estimates as cost cuts offset weak delivery demand
PepsiCo beats quarterly revenue estimates on price hikes, steady demand
General Motors beats quarterly results targets, raises forecast
Soilbuild bags contracts worth S$81 million